MCQs)

Shapes, Inc. had a beginning work-in-process inventory of $17,000. During January $73,000 of direct materials were requisitioned for production. Also, $45,000 of direct labor and $62,000 of manufacturing overhead was incurred. If Shapes completed and transferred $167,000 to finished goods, what was the ending work-in-process amount? *

A) $27,000

B) $30,000

C) $42,000

D) $54,000

E) Other: (Explain)