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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