Knowledge Check 02 Venus International makes customized furniture and uses job order costing. During a period, its beginning raw materials inventory was $10,000. It purchased raw materials of $20,000 and ended the period with ending raw materials inventory of $3,000. What is the cost of raw materials transferred to Work in Process Inventory? O $27,000 O $33,000 O $30,000 O $20,000 Knowledge Check 03 Smith and Stein Inc. is a jeweler specialized in making exclusive designs for its customers. Its unadjusted cost of goods sold in a period is $150,000 and the period's sales revenue is $225,000. If the underapplied manufacturing overhead is $5,000, calculate the gross profit. O $70,000 O $85,000 O $80,000 O $75,000