At the Beginning of 2015, Swift Company's Work-In-Process Inventory Account

question 32

Multiple Choice

At the beginning of 2015, Swift Company's Work-in-Process Inventory account had a balance of $120,000. During 2015, $250,000 of direct materials were used in production, and $75,000 of direct labor costs were incurred. Manufacturing overhead amounted to $850,000. The cost of goods manufactured was $675,000. What is the balance in the Work-in-Process Inventory account on December 31, 2015?

• A)$230,000
• B)$1,295,000
• C)$675,000
• D)$620,000

---

Definitions:

Socio-emotional Selectivity Theory

A theory suggesting that as people age, they become more selective in their social relationships to maximize positive emotional experiences.

Stratification

The arrangement or classification of something, often society, into different groups or layers based on characteristics like wealth, race, or education.

Triple Jeopardy

This term commonly refers to a compounded disadvantage, often discussing how race, gender, and class oppression intersect, though there's no universal singular definition associated with a specific field.

Disengagement

A theory proposing that ageing involves a natural and inevitable mutual withdrawal between an individual and society.