A tornado struck the only manufacturing plant of Toledo Farm lmplements (TFI on June 1. All work-in-process inventory was destroyed, but a few records were salvaged from the wreckage and from the company's headquarte If acceptable documentation is provided, the loss will be covered by insurance. The insurable value of work-in-process inventory consists of direct materials, direct labor, and applied overhead. The following information about the plant appears on the April financial statements at the Company's downtown headquarters: Materials inventory, April 30 S100,000 Work-in-process inventory, April 30 69.700 Finished goods inventory, April 30 66.000 Cost of goods sold through April 30 697,400 Accounts payable (materials suppliers), April 30 43.200 Manufacturing overhead through April 30 370.400 Payroll payable. April 30 Withholding and other payroll liabilities, Apnl 30 9.300 Overhead applied through Apnl 30 359.600 A count of the inventories on hand May 31 shows the following: Materials inventory S88,000 Work-in-process inventory 77,000 Finished goods inventory The accounts payable clerk tells you that outstanding bills to suppliers totaled $98,400 and that cash payments of S72,900 were made to them during the month. She informs you that the payroll costs last month for the manufacturing section included $173,600, of which $30,300 was indirect labor, At the end of May, the following balances were available from the main office: $436,000 Manufacturing overhead through May 31 800,700 Cost of goods sold through May 31 Recall that each month there is only one requisition for indirect materials. Among the fragments of paper, you located the following intormation, which you have neatly typed for your records: From scrap found under desk: indirect materials $4,194 You also learn that the overhead during the month was overappled by $2,200. Required: Determine the cost of the work-in-process inventory lost in the disaster