Lonborg Co. had the following beginning and ending inventory balances:
January 1, 20x8
December 31, 20x8
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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.
What was the amount of Cost of Goods Manufactured for the year?
none of the above
Rancor, Inc. had a per-unit conversion cost of $2.50 during April and incurred direct materials cost of
$100,000, direct labor costs of $75,000, and overhead costs of $45,000 during the month. How many