Calculate the balance in the Work in Process Inventory account as of March 31.

Work in Process Account as of March 31

Problem 4-26 (Part Level Submission) Swifty Company produces high-quality microscopes for education and health care uses. The company uses a job order costing system. Because the microscopes' optics require significant manual labor to ensure adherence to strict manufacturing specifications, the company applies overhead on the basis of direct labor hours. At the beginning of 2017, the company estimated its manufacturing overhead would be $1,950,000 and that employees would work a total of 48,750 direct labor hours. During March, the company worked on the following five jobs: Direct Materials Direct Labor Direct Labor Hours Beginning added during added during added during Job 134 158 212 287 301 Total Balance March March March $118,700 121,650 21,700 34,250 $5,000 2,400 86,500 72,000 19,140 $185,040 $8,200 12,110 36,400 31,800 21,820 110,330 140 390 3,460 2,660 1,330 7,980 $296,300 Jobs 134 and 158 were started in January, Jobs 212 and 287 were trted in February, and Job 301 was started in March. During March, workers completed Jobs 134, 158, and 212. Jobs 134 and 212 were delivered to customers during March. Actual overhead for the month of March was $176,000. The manufacturing overhead account is disposed of annually, not monthly