Manor Painting is a commercial interior and exterior painting contractor specializing in commercial buildings. An inventory of materials and equipment is on hand at all times, so work can start as quickly as possible. Special equipment is ordered as required. On August 1, the Materials Inventory account had a balance of $54,300. The Work-in-Process Inventory account is maintained to record costs of work not yet complete. There were two such jobs on August 1 with the following costs: Materials and equipment Direct labor Overhead (applied) Job 84 $ 23,400 20,600 8,240 Job 87 $ 79,100 39.700 15,880 Overhead has been applied at 40 percent of the costs of direct labor using an annual rate. During August, Manor Painting started two new jobs. Additional work was carried out on Jobs 84 and 87. Job 87 was completed and billed to the customer. Details on the costs incurred on jobs during August follow: Materials and equipment Direct labor (wages payable) Other August Events Job 84 $ 4,800 8,100 Job 87 $ 7,500 10,400 Job 88 $ 7,200 9,200 Job 90 $ 4,700 2,700