At the beginning of the year, Swift, Inc.'s Work in Process Inventory account had a balance of 5122,000 During the year, $250,000 of direct materials were used in production, and $70,000 of direct labor costs were incurred Manufacturing overhead amounted to $802,000 The cost of goods manufactured was $672,000 What is the balance in the Work in Process Inventory account on December 31? O A 51,344,000 OB. 5572,000 OC. $1,122,000 OD. $672,000 Victory Tire Company makes a special kind of racing tire. Variable costs are $220 per unit, and fixed costs are $30,000 per month Victory sells 700 units per month at a sales price of $310. if the quality of the tire is upgraded, the company believes it can increase the sales price to $340 If so, the variable cost will increase to $230 per unit, and the fixed costs will remain the same I Vidory decides to upgrade, how will it affect operating incomo? On Operating income will increase by $14,000 OB. Operating income will decrease by 57.000 OC Operating income will decrease by $14,000 OD. Operating Income will increase by 57.000