Dapper Corporation had only one job in process on May 1. The job had been charged with $1,030 of direct materials, $3,760 of direct labor, and $6,350 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $22.20 per direct labor-hour.
During May, the following activity was recorded:
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Raw materials (all direct materials):
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Beginning balance
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$ 7,400
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Purchased during the month
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$28,200
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Used in production
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$29,400
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Labor:
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Direct labor-hours worked during the month
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1,710
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Direct labor cost incurred
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$20,691
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Actual manufacturing overhead costs incurred
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$34,000
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Inventories:
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Raw materials, May 30
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?
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Work in process, May 30
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$15,500
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Work in process inventory on May 30 contains $2,420 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.
The balance in the raw materials inventory account on May 30 was: