1.At the beginning of 2011, Company A's work-in-process inventory account had a balance of $55,000. During 2011, $48,000 of direct materials was used in production, and $61,000 of direct labor costs was incurred. Manufacturing overhead in 2011 amounted to $25,000. The cost of goods manufactured was $131,000 in 2011. What is the balance in work-in-process inventory on December 31, 2011?

a. $76,000

b. $58.000

c. $3,000

d. $79,000