Walsh Corporation has provided the following data for its two most recent years of operation:

Selling price per unit	$	91
Manufacturing costs:
Variable manufacturing cost per unit produced:
Direct materials	$	12
Direct labor	$	5
Variable manufacturing overhead	$	5
Fixed manufacturing overhead per year	$	432,000
Selling and administrative expenses:
Variable selling and administrative expense per unit sold	$	4
Fixed selling and administrative expense per year	$	78,000

	Year 1	Year 2
Units in beginning inventory	0	1,000
Units produced during the year	9,000	12,000
Units sold during the year	8,000	10,000
Units in ending inventory	1,000	3,000

Which of the following statements is true for Year 1?

Select one:

a. The amount of fixed manufacturing overhead deferred in inventories is $48,000

b. The amount of fixed manufacturing overhead deferred in inventories is $560,000

c. The amount of fixed manufacturing overhead released from inventories is $560,000

d. The amount of fixed manufacturing overhead released from inventories is $48,000