The following information has been provided by Crosby Corporation:

Direct Labor $6000
Direct Materials Used 3000
Direct Materials Purchased 9000
Cost of Goods Manufactured 13,000
Ending Work-in-Process Inventory 1400
Corporate Headquarters' Property taxes 900
Manufacturing Overhead Incurred 400
The beginning balance of Work-in-Process Inventory account was .

Select one:

A. $5000
B. $21,000
C. $4500
D. $9400

Option A) $5000

Explanation:

The explanation for this question is given in the attachment below.

The Federal Deposit Insurance Corporation, or FDIC, protects the money people deposit into their bank accounts. When a bank fails, or when a financial crisis induces large numbers of people to withdraw their money, account holders may lose the money they deposited. The FDIC was created to not only establish a reserve of cash against deposits but give people confidence in the banking industry.