Concord Corporation's accounting records reflect the following inventories: Dec. 31, 2016 Dec. 31, 2017 Raw materials inventory Work in process inventory Finished goods inventory 76000 100000 100000 $60000 112000 92000 During 2017, Concord purchased $1450000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totaling $160000. How much raw materials were transferred to production during 2017 for Concord? $1450000 $1390000 $1434000 $1466000