The following account balances at the beginning of January were selected from the general ledger of Sailor Manufacturing Company:
| Work in process inventory | $0 |
| Raw materials inventory | $26,000 |
| Finished goods inventory | $46,000 |
Additional data:
| 1) | Actual manufacturing overhead for January amounted to $62,000. |
| 2) | Total direct labour cost for January was $57,000. |
| 3) | The predetermined manufacturing overhead rate is based on direct labour cost. The budget for |
the year called for $300,000 of direct labour cost and $360,000 of manufacturing overhead costs.
| 4) | The only job unfinished on January 31 was Job No. 1002, for which total direct labour charges |
were $6,300 (800 direct labour hours) and total direct material charges were $12,000.
| 5) | Cost of direct materials placed in production during January totaled $101,000. |
| 6) | January 31 balance in raw materials inventory was $32,000. |
| 7) | Finished goods inventory balance on January 31 was $34,500. |
What is the work in process inventory balance on January 31 at Sailor Manufacturing Company?
◦ $49,550
◦ $23,550
◦ $7,560
◦ $25,860
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