Wright Corporation had the following information available for December of the current year:Work in process, December 1 $20,000 Materials placed into production, December 27,500 Direct labor, December 37,500 ​ Plantwide overhead rate is 150% of direct labor costs. Job cost sheets had the following balances: Job Z1 $32,500 Job Z2 55,000 Job Z3 35,000 Job Z4 18,750 ​ Jobs Z3 and Z4 were not completed at the end of December. What is the balance in work-in process for Wright at the end of December?Select one:
a. $85,000
b. $87,500
c. $56,250
d. $53,750