# Tyare Corporation had the following inventory balances at the beginning and end of May: May 1 May 30 Raw materials $ 26,500 $ 32,000 Finished Goods $ 76,000 $ 68,000 Work in Process $ 14,500 $ 16,654 During May, $59,500 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12

1 answer

###### Question:

Tyare Corporation had the following inventory balances at the beginning and end of May:

May 1 May 30

Raw materials $ 26,500 $ 32,000

Finished Goods $ 76,000 $ 68,000

Work in Process $ 14,500 $ 16,654

During May, $59,500 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 320 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $7,150 of direct materials cost. The Corporation incurred $42,300 of actual manufacturing overhead cost during the month and applied $40,200 in manufacturing overhead cost.

The raw materials purchased during May totaled:___________

May 1 May 30

Raw materials $ 26,500 $ 32,000

Finished Goods $ 76,000 $ 68,000

Work in Process $ 14,500 $ 16,654

During May, $59,500 in raw materials (all direct materials) were drawn from inventory and used in production. The company's predetermined overhead rate was $12 per direct labor-hour, and it paid its direct labor workers $15 per hour. A total of 320 hours of direct labor time had been expended on the jobs in the beginning Work in Process inventory account. The ending Work in Process inventory account contained $7,150 of direct materials cost. The Corporation incurred $42,300 of actual manufacturing overhead cost during the month and applied $40,200 in manufacturing overhead cost.

The raw materials purchased during May totaled:___________

## Answers

Answer:$65,000Explanation:Preparation of the total amount of the raw materials purchased during May Using this formulaMay Raw materials purchased= Raw materials used during production- Beginning raw material+ Ending raw materialLet plug in the formula May Raw materials purchased= $59,500- $26,500 + $32,000May Raw materials purchased = $65,000Therefore The raw materials purchased during May totaled:$65,000

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