Dapper Corporation had only one job in process on May 1.The job had been charged with $3, 400 of direct materials, $4, 640 of direct labor, and $9, 200 of manufacturing overhead cost.The company assigns overhead cost to jobs using the predetermined overhead rate of $23.00 per direct labor-hour. During May, the following activity was recorded: Work in process inventory on May 30 contains $7, 540 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:

Question

Dapper Corporation had only one job in process on May 1.The job had been charged with $3, 400 of direct materials, $4, 640 of direct labor, and $9, 200 of manufacturing overhead cost.The company assigns overhead cost to jobs using the predetermined overhead rate of $23.00 per direct labor-hour. During May, the following activity was recorded:  Work in process inventory on May 30 contains $7, 540 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:

Quizplus · Accepted Answer

Raw materials used in production = Beginning raw materials inventory + Purchases of raw materials - Ending raw materials inventory
Ending raw materials inventory = Beginning raw materials inventory + Purchases of raw materials - Raw materials used in production
Ending raw materials inventory = $8, 500 + $42, 000 - $48, 500 = $2, 000

Dapper Corporation Had Only One Job in Process on May