Vaughn Inc's accounting records reflect the following inventories: Dec. 31, 2021 Dec. 31, 2022 $79000 $63000 Raw materials inventory Work in process inventory Finished goods inventory 103000 O $1466000 O $1450000 O$1387000 O $1434000 100000 115000 92000 During 2022, Vaughn purchased $1450000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totalling $160000, (Assume that all raw materials used were direct materials.) What was the cost of raw materials transferred to production during 2022 for Vaughn?

Vaughn Inc's accounting records reflect the following inventories: Dec. 31, 2021 Dec. 31, 2022 $79000 $63000 Raw materials inventory Work in process inventory Finished goods inventory 103000 O $1466000 O $1450000 O$1387000 O $1434000 100000 115000 92000 During 2022, Vaughn purchased $1450000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing overhead totalling $160000, (Assume that all raw materials used were direct materials.) What was the cost of raw materials transferred to production during 2022 for Vaughn?

FINANCIAL ACCOUNTING

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Chapter1: Financial Statements And Business Decisions

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Vaughn Inc's accounting records reflect the following inventories:
Raw materials inventory
Work in process Inventory
Finished goods inventory
Dec. 31, 2021 Dec. 31, 2022
$79000
$63000
O $1466000
O $1450000
$1387000
O $1434000
103000
100000
115000
92000
During 2022, Vaughn purchased $1450000 of raw materials, incurred direct labor costs of $250000, and incurred manufacturing
overhead totaling $160000. (Assume that all raw materials used were direct materials.)
What was the cost of raw materials transferred to production during 2022 for Vaughn?

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