Figure 2-2

question 48

Multiple Choice

Figure 2-2. Lonborg Co.had the following beginning and ending inventory balances for the year ended December 31,2011:
In addition,direct labor costs of $30,000 were incurred,overhead equaled $42,000,materials purchased were $27,000 and selling and administrative costs were $22,000.Lonborg Co.sold 25,000 units of product during the year at a sales price of $5.00 per unit.
Refer to Figure 2-2.What was the amount of cost of goods manufactured for the year?

• A)$101,000
• B)$124,000
• C)$100,000
• D)$102,000

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Definitions:

High Degree

Implies a significant level or amount of something, often used to describe the intensity, quality, or level of education.

Concrete

Pertaining to an actual, specific thing or instance; real or solid; not abstract.

Emotional Stability

The extent to which we can remain calm and composed.

Emotional Composure

The ability to maintain calm and control one's emotions, especially in challenging situations.