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Richard Inc. manufactures customized furniture for individual customers. On March 1, there were two jobs in process: Job 200 with a beginning balance of $15,000

Richard Inc. manufactures customized furniture for individual customers. On March 1, there were two jobs in process: Job 200 with a beginning balance of $15,000 and Job 201 with a beginning balance of $8,000. Overhead costs are applied by using a rate of 40% of direct labor costs. Both jobs are unfinished on March 31. Data on March costs for both the jobs are as follows: Direct materials Direct labor cost Job 200 $12,000 10,000 Job 201 $ 16,000 15,000 What is the total amount of the work-in-process account on March 31? O $86,000 $63,000 $45,000 $41,000

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