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Crane Manufacturing Inds accounting records reflect the following inventories: Des
Crane Manufacturing Inds accounting records reflect the following inventories:
Des...1L Dtc..31.
2412 2424 Raw materials Inventory S100500 $80700 Work in process Inventory 130400 144200 Finished goods inventory 124500 115800
During 2020, Crane puf chased 5949700 of raw materials. Incurred direct labour costs of 5125800. and incurred manufacturing overhead totalling 5159500. How much raw materials is transferred to production during 2020 for Crane Manufacturing?
$1237700 1969500 5949700 1929900
Expert Solution
| 1) Schedule of Raw Material Transferred to Production: | |
| Particulars | Amount |
| Beginning Raw Material Inventory | 100500 |
| Add: Raw Material Purchased during the year | $949,700.00 |
| Total raw material Available for use in Production | $1,050,200.00 |
| Less: Ending Raw material Inventory | 80700 |
| Raw material Transferred to Production during 2020 | $969,500.00 |
| So, the correct option is 2nd "$969,500". | |
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