Micker Boots produces cowboy boots. Its Raw Materials account ...

[xjustxicex]

Question 1

Micker Boots produces cowboy boots. Its Raw Materials account contains only direct materials. If the beginning balance in Raw Materials Inventory is $5,000, the ending balance is $3,500, and $60,000 was purchased, what is the amount of materials transferred to Work in Process Inventory during the period?
◦ $68,500
◦ $58,500
◦ $60,000
◦ $61,500

Question 2

Micker Boots produces cowboy boots. Its Raw Materials account contains only direct materials. If the ending balance in Raw Materials Inventory is $3,500, $60,000 was purchased, and $61,500 was transferred to Work in Process Inventory during the period, what was the amount in beginning inventory?
◦ $1,500
◦ $5,000
◦ $2,000
◦ $3,500

[ahardin89]

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[xjustxicex]

Thanks for the timely response, appreciate it

[carlsona147]

Wow, this really help