On January 1, 2016, Matthew Company's work in process inventory account had a balance of $46,000. During 2016, $64,000 of direct materials was placed into production. Manufacturing wages incurred amounted to $84,000, of which $66,000 were for direct labor. Manufacturing overhead is allocated on the basis of 120% of direct labor cost. Actual manufacturing overhead was $90,000. Jobs costing $220,400 were completed during 2016. What is the December 31, 2016 balance in work in process inventory?