Figure 2-2

question 158

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 sold for the year?

• A)$102,000
• B)$97,500
• C)$106,500
• D)$128,500

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Definitions:

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