Job-Order Cost Sheets, Balance in Work in Process and Finished Goods

Prull Company, a job-order costing firm, worked on three jobs in July. Data are as follows:

	Job 86	Job 87	Job 88
Balance, July 1	$21,320	$6,300	$0
Direct materials	$10,490	$12,280	$16,210
Direct labor	$16,000	$12,150	$23,990
Machine hours	480	290	1,020

Overhead is applied to jobs at the rate of $16 per machine hour. By July 31, Jobs 86 and 88 were completed. Jobs 82 and 86 were sold. Job 87 remained in process. On July 1, the balance in Finished Goods was $48,900 (consisting of Job 82 for $25,550 and Job 84 for $23,350).

Prull prices its jobs at cost plus 30%. During July, variable marketing expenses were 3% of sales, and fixed marketing expenses were $1,990; administrative expenses were $4,780. (Round all amounts to the nearest dollar.)

5. Calculate operating income for Prull Company for the month of July.

The operating income for the month of July is ( ).