Part II: Red Company manufactures automated testing equipment. The company uses a job-order costing system and applies overhead based on machine-hours. At the beginning of the year, estimated total manufacturing overhead was $1,960,000 and the estimated total machine-hours was 98,000. Data regarding several jobs at the Company are presented below.

Job Number	Beginning Balance	Direct Materials	Direct Labour	Machine Hours
XJ-107	$118,600	$4,000	$8,400	150
ST-211	121,450	2,500	12,160	300
XD-108	21,800	86,400	36,650	3,100
SL-205	34,000	71,800	32,175	2,700
RX-115	-	18,990	21,845	1,400

By the end of the first month (January), all jobs but RX-115 were completed, and all completed jobs had been delivered to customers except for SL-205. Required: What was the balance in Finished Goods inventory at the end of January?