Micker Boots produces cowboy boots, its Raw Materials account contains only direct materials.If the beginning balance in Raw Materials Inventory is $5,000, the ending balance is $3,500, and $60,000 was purchased, what is the amount of materials transferred to Work in Process Inventory during the period?

Question

Quizplus · Accepted Answer

The amount of materials transferred to Work in Process Inventory during the period can be calculated using the following formula:

Materials transferred = Beginning raw materials inventory + Purchases - Ending raw materials inventory

Substituting the given values,
Materials transferred = $5,000 + $60,000 - $3,500
= $61,500

Therefore, the correct answer is (C) $61,500.

Micker Boots Produces Cowboy Boots, Its Raw Materials Account Contains