The following information is available:
Beginning raw materials inventory..............................$10,000
Ending raw materials inventory....................................12,000
Beginning work-in-process inventory............................27,000
Ending work-in-process inventory................................30,000
Beginning finished goods inventory..............................56,000
Ending finished goods inventory.................................52,000
Raw materials purchased...........................................95,000
Based on the above, the raw material transferred to production was
a. $94,000
b. $93,000
c. $95,000
d. none of these answers is correct