At the Beginning of the Year,Swift,Inc

Multiple Choice

At the beginning of the year,Swift,Inc.'s Work-in-Process Inventory account had a balance of $123,000.During the year,$250,000 of direct materials were used in production,and $71,000 of direct labor costs were incurred.Manufacturing overhead amounted to $829,000.The cost of goods manufactured was $670,000.What is the balance in the Work-in-Process Inventory account on December 31?

A) $1,150,000
B) $1,340,000
C) $670,000
D) $603,000