I've Bean Everywhere Man is a special coffee roaster. The company had the following balances as at
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Question:
I've Bean Everywhere Man is a special coffee roaster.
The company had the following balances as at the December 31, 2018 year-end:
- Raw materials inventory - $87,515
- Work in process inventory - $109,127
- Finished goods inventory - $96,562
The company had the following balances as at the December 31, 2019 year-end:
- Raw materials inventory - $65,353
- Work in process inventory - $118,478
- Finished goods inventory - $94,551
During 2019, I've Bean Everywhere Man purchased $1,447,844 of raw materials, had direct labour costs of $246,743, and incurred manufacturing overhead (MOH) of $158,567.
Calculate the amount of raw materials transferred to production in 2019.
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