7. The following job cost information is available for the Crandall Co. in 2014 Direct material Direct labor Machine Job 112 113 114 costs $4,000 $12,000 $30,000 hours 3,000 4,400 10,400 hours 5,000 2,500 15,800 Units 100 400 500 The average wage rate was S5 per hour. Overhead was allocated at $6 per direct labor hour. At the beginning of 2014, Job 112 was finished, Job 113 was in process with $34,000 of costs assigned to it, and Job 114 had not been started. By the end of 2014, Job 112 was sold, Job 113 was finished and 100 units were sold, and Job 114 was unfinished. The 2014 closing inventory of Work in Process was a. $187,200 b. $ 60,400 c. $144,400 d. $ 54,750