Wolanski Corporation has provided the following data for its most recent year of operations: Selling price per unit$48Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$11Direct labor$5Variable manufacturing overhead$5Fixed manufacturing overhead per year$110,000Selling and administrative expenses: Variable selling and administrative expense per unit sold$4Fixed selling and administrative expense per year$71,000 Units in beginning inventory 0Units produced during the year 11,000Units sold during the year 8,000Units in ending inventory 3,000 Which of the following statements is true?
A. The amount of fixed manufacturing overhead deferred in inventories is $248,000
B. The amount of fixed manufacturing overhead released from inventories is $30,000
C. The amount of fixed manufacturing overhead deferred in inventories is $30,000
D. The amount of fixed manufacturing overhead released from inventories is $248,000
Answer: C
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