Q1) Dasilvia Company had only 1 job in process on May 1. Job had been charged with $1,400 of direct materials, $6,192 of direct material, and $5712 of manufacturing overhead cost. Company allocates overhead cost to jobs using predetermined overhead rate of $11.90 per direct labor hour. In May the following activity was recorded
Raw materials (all direct materials)
| Beginning balance |
$8,500 |
| Purchase during the month |
$48,000 |
| Used in production |
$51,800 |
Labor:
| Direct labor-hours worked during the month |
1,900 |
| Direct labor cost incurred |
$24,510 |
| Actual manufacturing overhead costs incurred |
$21,000 |
Inventories:
| Raw material, May 30 |
? |
| Work in process, May 30 |
19,536 |
1) Cost of goods produced for May was:
a.$98.920
b.$92,688
c.$120,800
d.$97,310
2) Balance in raw materials inventory account on May 30 was:
a.$4,700
b.$43,300
c.$3,800
d.9,500