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:
|
Raw materials (all direct materials):
|
|
|
Beginning balance
|
$ 7,400
|
|
Purchased during the month
|
$28,200
|
|
Used in production
|
$29,400
|
|
Labor:
|
|
|
Direct labor-hours worked during the month
|
1,710
|
|
Direct labor cost incurred
|
$20,691
|
|
Actual manufacturing overhead costs incurred
|
$34,000
|
|
Inventories:
|
|
|
Raw materials, May 30
|
?
|
|
Work in process, May 30
|
$15,500
|
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.