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11. Lillard Inc.'s accounting records reflect the following inventories Raw materials inventory Dec. 31. 2021 Dec 31, 2022 $ 40,000 $32,000 Work in process inventory 52,000 58.000 Finished goods inventory 50.000 46,000 During 2022, Lillard purchased $725,000 of raw materials, incurred direct labor costs of $125,000, and incurred manufacturing overhead totaling $80,000 Assume Lillard's cost of goods manufactured for 2022 amounted to $830,000. How much would it report as cost of goods sold for the year? A) S784.000 B) $826.000 C) $834.000 D) $880,000 12. Lillard Inc.'s accounting records reflect the following inventories: Dec 31, 2021 Dec. 31. 2022 Raw materials inventory $ 40,000 $ 32.000 Work in process inventory 52.000 58.000 Finished goods inventory 50.000 46,000 During 2022, Lillard purchased $725,000 of raw materials, incurred direct labor costs of $125,000, and incurred manufacturing overhead totaling $80,000. How much raw materials were transferred to production during 2022 for Lillard? A) $717,000 B) $725,000 C) $693,000 D) $733,000