Question

During 2017, Benson purchased $1,450,000 of raw materials, incurred direct labor costs of $250,000, and incurred manufacturing overhead totaling $160,000. How much raw materials were transferred to production during 2017 for Benson

Answer 1

Answer:

Raw Materials transferred to production during 2017 $1,466,000

Explanation:

The computation of the raw material transferred to production is given below:

Opening raw material 2016 $80,000

Add : Purchase of Raw material $1,450,000

Less Closing Stock raw material 2017 $64,000

Raw Materials transferred to production during 2017 $1,466,000

Hence, the same should be relevant