Figure 2-2

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 manufactured for the year?

A) $101,000
B) $124,000
C) $100,000
D) $102,000