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

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