3. Describe and illustrate financial statements for a Problem #2 of 3 1 2 3 Ralph's Cafe has the following information for June. Cost of materials placed in production Direct labor Factory overhead Work in process inventory, June 1 Work in process inventory, June 30 Finished goods inventory, June 1 Finished goods inventory, June 30 What is the cost of goods sold? a. $78,700 b. $83,400 c. $78,400 d. $79,000 $45,000 20,000 14,000 2.900 3,500 5,000 4,700

3. Describe and illustrate financial statements for a Problem #2 of 3 Ralph's Cafe has the following information for June. 1 2 3 What is the cost of goods sold? a. $78,700 b. $83,400 c. $78,400 d. $79,000