{"id":55259,"date":"2024-04-16T00:24:21","date_gmt":"2024-04-16T00:24:21","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=55259"},"modified":"2024-04-16T00:24:21","modified_gmt":"2024-04-16T00:24:21","slug":"if-the-beginning-balance-in-raw-materials-inventory-is-rs-5000-the-ending-balance-is-rs-3500-and-material-of-rs-60000-was-purchased-what-is-the-amount-of-materials-transferred-to-work-in-proce","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/if-the-beginning-balance-in-raw-materials-inventory-is-rs-5000-the-ending-balance-is-rs-3500-and-material-of-rs-60000-was-purchased-what-is-the-amount-of-materials-transferred-to-work-in-proce\/","title":{"rendered":"If the beginning balance in raw materials inventory is Rs. 5,000, the ending balance is Rs. 3,500 and material of Rs. 60,000 was purchased, what is the amount of materials transferred to work-in-processinventory during the period?"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 58,500&#8243; option2=&#8221;Rs. 60,000&#8243; option3=&#8221;Rs. 61,500&#8243; option4=&#8221;Rs. 68,500&#8243; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is A. Rs. 58,500.<\/p>\n<p>To calculate the amount of materials transferred to work-in-process inventory during the period, we can use the following formula:<\/p>\n<p>Materials transferred to work-in-process inventory = Beginning raw materials inventory + Purchases &#8211; Ending raw materials inventory<\/p>\n<p>In this case, we have the following information:<\/p>\n<ul>\n<li>Beginning raw materials inventory = Rs. 5,000<\/li>\n<li>Purchases = Rs. 60,000<\/li>\n<li>Ending raw materials inventory = Rs. 3,500<\/li>\n<\/ul>\n<p>Substituting these values into the formula, we get:<\/p>\n<p>Materials transferred to work-in-process inventory = Rs. 5,000 + Rs. 60,000 &#8211; Rs. 3,500 = Rs. 58,500<\/p>\n<p>Therefore, the amount of materials transferred to work-in-process inventory during the period is Rs. 58,500.<\/p>\n<p>Option B is incorrect because it is the total amount of materials purchased during the period. Option C is incorrect because it is the sum of the beginning raw materials inventory and the purchases. Option D is incorrect because it is the sum of the beginning raw materials inventory, the purchases, and the ending raw materials inventory.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Rs. 58,500&#8243; option2=&#8221;Rs. 60,000&#8243; option3=&#8221;Rs. 61,500&#8243; option4=&#8221;Rs. 68,500&#8243; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[952],"tags":[],"class_list":["post-55259","post","type-post","status-publish","format-standard","hentry","category-costing","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>If the beginning balance in raw materials inventory is Rs. 5,000, the ending balance is Rs. 3,500 and material of Rs. 60,000 was purchased, what is the amount of materials transferred to work-in-processinventory during the period?<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/if-the-beginning-balance-in-raw-materials-inventory-is-rs-5000-the-ending-balance-is-rs-3500-and-material-of-rs-60000-was-purchased-what-is-the-amount-of-materials-transferred-to-work-in-proce\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"If the beginning balance in raw materials inventory is Rs. 5,000, the ending balance is Rs. 3,500 and material of Rs. 60,000 was purchased, what is the amount of materials transferred to work-in-processinventory during the period?\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Rs. 58,500&#8243; option2=&#8221;Rs. 60,000&#8243; 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inventory is Rs. 5,000, the ending balance is Rs. 3,500 and material of Rs. 60,000 was purchased, what is the amount of materials transferred to work-in-processinventory during the period?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/if-the-beginning-balance-in-raw-materials-inventory-is-rs-5000-the-ending-balance-is-rs-3500-and-material-of-rs-60000-was-purchased-what-is-the-amount-of-materials-transferred-to-work-in-proce\/","og_locale":"en_US","og_type":"article","og_title":"If the beginning balance in raw materials inventory is Rs. 5,000, the ending balance is Rs. 3,500 and material of Rs. 60,000 was purchased, what is the amount of materials transferred to work-in-processinventory during the period?","og_description":"[amp_mcq option1=&#8221;Rs. 58,500&#8243; option2=&#8221;Rs. 60,000&#8243; option3=&#8221;Rs. 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