Farber Corporation uses a job-order costing system. The information below is from the financial records of the company for last year: Total manufacturing costs $2,900,000 Cost of goods manufactured $2,784,000 Predetermined overhead rate 80% of direct labor cost Applied overhead was 30% of total manufacturing costs. The Work in Process inventory at January 1 was 75% of the Work in Process inventory at December 31. The Work in Process inventory at December 31 was:

$141,000

$348,000

$464,000

$116,000