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

Raw Materials Used = Beginning balance + Purchases - Ending balance
Raw Materials Used = $5,000 + $60,000 - $3,500
Raw Materials Used = $61,500

Since Raw Materials Used = Materials transferred to Work in Process Inventory,
the answer is $61,500, which corresponds to choice C.

If the Beginning Balance in Raw Materials Inventory Is $5,000,the