At the Beginning of 2015,Swift Inc

question 46

Multiple Choice

At the beginning of 2015,Swift Inc.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

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