Benson Inc.'s accounting records reflect the following inventories: $$\begin{array} { l c c }
& \text { Dec. 31,2016 } & \text { Dec. 31, 2017 } \
\text { Raw materials inventory } & \$ 80,000 & \$ 64,000 \
\text { Work in process inventory } & 104,000 & 116,000 \
\text { Finished goods inventory } & 100,000 & 92,000
\end{array}$$ During 2017 Benson purchased $1450000 of raw materials incurred direct labor costs of $250000 and incurred manufacturing overhead totaling $160000. How much raw materials were transferred to production during 2017 for Benson?

Question

Benson Inc.'s accounting records reflect the following inventories: $$\begin{array} { l c c } 
& \text { Dec. 31,2016 } & \text { Dec. 31, 2017 } \
\text { Raw materials inventory } & \$ 80,000 & \$ 64,000 \
\text { Work in process inventory } & 104,000 & 116,000 \
\text { Finished goods inventory } & 100,000 & 92,000
\end{array}$$ During 2017 Benson purchased $1450000 of raw materials incurred direct labor costs of $250000 and incurred manufacturing overhead totaling $160000. How much raw materials were transferred to production during 2017 for Benson?

Quizplus · Accepted Answer

The Answer of Benson Inc.'s accounting records reflect the following inventories: $$\begin{array} { l c c } 
& \text { Dec. 31,2016 } & \text { Dec. 31, 2017 } \
\text { Raw materials inventory } & \$ 80,000 & \$ 64,000 \
\text { Work in process inventory } & 104,000 & 116,000 \
\text { Finished goods inventory } & 100,000 & 92,000
\end{array}$$ During 2017 Benson purchased $1450000 of raw materials incurred direct labor costs of $250000 and incurred manufacturing overhead totaling $160000. How much raw materials were transferred to production during 2017 for Benson?

Benson Inc During 2017 Benson Purchased $1450000 of Raw Materials Incurred Direct