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The Cost of Raw Materials Transferred to Production in 2019

question 50

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20182019 Finished goods inventory $20000$10000 Work in process inventory 1200015000 Raw materials inventory 60008000 Purchases of raw materials 17000 Cost of goods manufactured 50000\begin{array} { l r r } & 2018 & 2019 \\\text { Finished goods inventory } & \$ 20000 & \$ 10000 \\\text { Work in process inventory } & 12000 & 15000 \\\text { Raw materials inventory } & 6000 & 8000 \\\text { Purchases of raw materials } & & 17000 \\\text { Cost of goods manufactured } & & 50000\end{array} The cost of raw materials transferred to production in 2019 is:


Definitions:

Dividend

A payout of a portion of a company's earnings to its shareholders, typically in the form of cash or stock.

Sole Proprietorship

Sole Proprietorship is a business structure owned and operated by one individual, where there is no legal distinction between the owner and the business.

Legal Entities

Entities recognized by law that have rights and responsibilities, such as corporations, partnerships, and sole proprietorships.

Accounting Entities

Organizations, businesses, or units for which separate financial statements are prepared, distinct from any other economic activities.

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