Question - Benson Manufacturing Inc.'s accounting records reflect the following inventories:
raw materials inventory( on dec.31,2009 is 80,000 and on dec.31,2010 is $64,000)
work in process inventory( on dec.31,2009 is 104,000 and on dec.31,2010 is 116,000)
finished goods inventory( on dec.31,2009 is 100,000 and on dec.31,2010 is 92,000)
During 2010, Benson purchased $860,000 of raw materials, incurred direct labor costs of $200,000, and incurred manufacturing overhead totaling $128,000.
How much is raw materials transferred to production during 2010 for Benson Manufacturing?
a. $1,192,000
b. $976,000
c. $960,000
d. $944,000