Assume Maria Company's accounting records reflect the following inventories: 12/31/2022 12/31/2021 ...
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Accounting
Assume Maria Company's accounting records reflect the following inventories:
12/31/2022 12/31/2021
Raw materials inventory $440,000 $300,000
Work in process inventory $6,000 $8,000
Finished goods inventory $30,000 $50,000
During 2022, $350,000 of raw materials were purchased, direct labor incurred was $200,000, and overhead applied was $105,000. Assume all raw materials used were direct materials. How much was moved out of work in process to finished goods during 2022?
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