You will use the following information for questions $1$ through $3$ :

Jaguar Company employs a normal costing system. The following information is from the financial records of the company for the year.

Total manufacturing costs were $$2,500,000.$

Cost of goods manufactured was $$2,425,000$

Applied factory overhead was $30\%$ of total manufacturing costs.

Factory overhead was applied to production at a rate of $80\%$ of direct labor cost.

Work$-$in$-$process inventory at January $1$ was $75\%$ of work$-$in$-$process inventory at December $31.$

The carrying value of Jaguar Company's work$-$in$-$process inventory at December $31$ is

$75,000$

$$100,000$

$$300,000$

$$225,000$