Solved

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?

Definitions:

Nativity

The birth of Jesus Christ, often depicted in Christian art and celebrated as a major holiday on December 25th.

Wren's Design

Refers to the architectural work of Sir Christopher Wren, most notably his design of St. Paul's Cathedral in London.

Saint Paul's Cathedral

A landmark church in London, England, designed by Sir Christopher Wren, notable for its distinctive dome and role in British national events.

Et in Arcadia Ego

A Latin phrase that translates to "Even in Arcadia, there am I" often interpreted as a memento mori, reflecting on the presence of death even in idyllic settings.