Gray Industries uses Job Order Costing. During the month of January the following costs were attributed to jobs. Direct Labor is paid at the rate of $20 per hour. Factory Overhead is applied at $55 per direct labor hour. Jobs 101,102, & 103 completed and were transferred to Finished Goods. Jobs 101 & 102 were sold for $25,000 and $20,000 respectively. What is the balance of WIP at January 31? Direct Direct Job Labor Materials HOURS 101 $8500 40 hours 102 $7200 36 hours 103 $5500 25 hours 104 $10000 50 hours 13