The following account balances at the beginning of January were selected from the general ledger of Ocean City Manufacturing Company:
Work in process inventory
Raw materials inventory
Finished goods inventory
$0
$28,400
$40,900
Additional data:
1. Actual manufacturing overhead for January amounted to $64,300.
2. Total direct labor cost for January was $63,400.
3. The predetermined manufacturing overhead rate is based on direct labor cost. The budget for the year called for $255,000 of direct labor cost and $382,500 of manufacturing overhead costs.
4. The only job unfinished on January 31 was Job No. 151, for which total direct labor charges were $5,200 (1,600 direct labor hours) and total direct material charges were $14,600.
5. Cost of direct materials placed in production during January totaled $123,100. There were no indirect material requisitions during January
6. January 31 balance in raw materials inventory was $35,900
7. Finished goods inventory balance on January 31 was $35,300.
What is the work in process inventory balance on January 31?
A. $27,600
B. $90,467
C. $62,067
D. $7,800