View Policies Current Attempt in Progress Concord Corporation's accounting records reflect the following inventories Dec 31, 2019 Dec 31, 2020 $ 71000 $ 55000 Raw materials Inventory Work in process Inventory Finished goods inventory 95000 107000 100000 92000 During 2020, 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 2020 for Concord? $1395000 $1450000 $1434000 $1466000 Current Attempt in Progress The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 12200 gallons of direct materials that actually cost $45140 were used to produce 7000 units of product. The direct materials quantity variance for last month was $7200 favorable O $7200 unfavorable $6100 unfavorable. $5400 favorable