Figure 2-2

question 149

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:

Medical Perspective

An approach to understanding and treating illnesses and disorders focusing on biological factors and using medical interventions.

Dysfunctional Symptoms

Abnormalities or impairments in normal functioning, often indicating the presence of a psychological disorder or disease.

Gene Expression

The process by which information from a gene is used in the synthesis of a functional gene product, often leading to the manifestation of a trait or characteristic.

Environmental Factors

External elements, including physical, chemical, and biological agents, that can influence living organisms.