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Rescue ( D Question 2 6 pts Managerial accounting, as compared to financial accounting, is primarily intended to facilitate: an understanding of GAAP. reporting results to shareholders. making decisions with timely, relevant information. O conducting ethics investigations under SOX. Question 10 Lonborg Co. had the following beginning and ending inventory balances for the year. January 1st December 31st Raw Materials $10,000 $ 8,000 Work in Process $18,000 $17,000 Finished Goods $21,000 $16,500 In addition, direct labor costs of $30,000 were incurred, applied 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? O $101,000 O $124,000 O $100,000 O $102,000 6 pts