he following are the job cost related accounts for the law firm of Oriole Associates and their manufacturing equivalents: Law Firm Accounts Manufacturing Firm Accounts Supplies Raw Materials Salaries and Wages Payable Factory Wages Payable Manufacturing Overhead Operating Overhead Service Contracts in Process Cost of Completed Service Contracts Work in Process Cost of Goods Sold Cost data for the month of March follow. Purchased supplies on account $2.040. Issued supplies $1.410 (60% direct and 40% Indirect). Assigned labor costs based on time cards for the month which indicated labor costs of $77.000 (80% direct and 20% Indirect). Operating overhead costs incurred for cash totaled $44,000 Operating overhead is applied at a rate of 90% of direct labor cost Work completed totaled $82,500 (b) Determine the balance of the Service Contracts in Process account. Balance of Service Contracts In Process account