11. Riley Manufacturing uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Raw materials....... Beginning Balance Ending Balance $11,000 $15,000 $14,000 $123,000 Work in process. Finished goods. $32,000 $108,000 Riley applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the Riley estimated that it would work 16,500 machine-hours, use $420,000 in direct labor, and incur $375,000 in manufacturing overhead cost. The following transactions were recorded for the year: Raw materials were purchased, $416,000. Raw materials were requisitioned for use in production, $414,000 ($346,000 direct and $68,000 indirect). The following employee costs were incurred: direct labor, $325,000; indirect labor, $69,500; and administrative salaries, $157,000. . Selling costs, $113,000. Factory supplies, $64,500. Depreciation for the year was $121,000 of which $110,000 is related to factory operations and $11,000 is related to selling, general, and administrative activities. . Manufacturing overhead was applied to jobs. The actual level of activity for the year was 15,500 machine-hours. Sales for the year totaled $1,282,000. a) What was the balance in the overhead account at the end of the year