The company uses a perpetual inventory system and has a highly labour-intensive production process, so it assigns manufacturing overhead based on direct labour cost. The predetermined overhead rate was computed from the following data:

Total estimated factory overhead $2,400,000

Total estimated direct labour cost $2,000,000

The WIP account given below relates to the activities for the month of June:

WIP Inventory A/C

June 1 Balance b/f $15,000

Direct Materials Used 123,000

Additional data:

Total material requisitioned $153,000

Manufacturing Labour Costs incurred . $163,500 (75% represents direct labour)

Other manufacturing overheads incurred ... $94,275

Two jobs were completed with total costs of $183,000 and $105,000 respectively. They were sold to the hotel on account at a margin of 33 1/3% on sales.

S.no.	Particulars	Debit	Credit
1.	Work In process Inventory	$123,000
	Manufacturing Overhead	$153,000
	To Raw Material Inventory		$276,000
2.	Wages Expense	$163,500
	To Wages payable		$163,500
3.	Work In process Inventory ($163,500 x 75%)	$122,625
	Manufacturing Overhead	$40,875
	To Wages Expense		$163,500
4.	Manufacturing Overhead	$94,275
	To Accounts Payable		$94,275
5.	Work In process Inventory ($122,625 x 120%)	$147,150
	To Manufacturing Overhead		$147,150
6.	Finished Goods Inventory($183,000+$105,000)	$288,000
	To Work in process Inventory		$288,000
7. (i)	Accounts Receivable ($288,000 x 33.33%)	$95,990.4
	To Sales Revenue		$95,990.4
(ii)	Cost of Goods sold	$288,000
	To Finished Goods Inventory		$288,000

Determine the balance in the Work in Process Inventory account