Laflin Company Reported the Following Year-End Information Laflin Company's Cost of Goods Manufactured for the Year Is

question 99

Multiple Choice

Laflin Company reported the following year-end information: $$\begin{array} { l r } \text { Beginning work in process inventory } & \$ 1,080,000 \\\text { Beginning raw materials inventory } & 300,000 \\\text { Ending work in process inventory } & 900,000 \\\text { Ending raw materials inventory } & 480,000 \\\text { Raw materials purchased } & 960,000 \\\text { Direct labor } & 900,000 \\\text { Manufacturing overhead } & 720,000\end{array}$$ Laflin Company's cost of goods manufactured for the year is

• A)$2,400,000.
• B)$2,580,000.
• C)$2,220,000.
• D)$2,760,000.

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Definitions:

Lawn Chairs

Portable chairs designed for use outdoors, particularly in lawns, gardens, or for leisure activities.

Budgeted Sales

Projected revenues a company expects to generate from its operations in a specific period, used for financial planning and performance evaluation.

Credit Sales

Sales made on credit, where the payment is received after the delivery of goods or services.

Cash Budget

A forecast of cash inflows and outflows over a specific period, used to manage the company's cash flow and ensure financial stability.