Madtack Company uses a job-order costing sys tem and started the month of March with only one job in process (Job # 359). This job had $5,000 of total cost assigned to it at the beginnin g of March. Madtack applies overhead to jobs at a rate of 175% of direct labor cost. During March, Madtack assigned production costs as follows to the jobs worked on during the month: Job #359 $1,000 ob #360 Job #361 direct materials ..... $5,000 $3,000 direct labor .... 3,000 2,000 2,000 During March, Madtack completed and sold Job #360. Job #361 was also completed but was not sold by the end of Mar ch. Job #359 was not completed by the end of March. Madtack Compa ny had total actual overhead cost of $10,700 for the month of Ma rch. Calculate the amount of work in process inve ntory reported in Madtack Company's March 31 balance sheet