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the following financial information about the manufacturing plant of continental company for the year-to-date and the month of july appears on the company's records Materials

the following financial information about the manufacturing plant of continental company for the year-to-date and the month of july appears on the company's records

Materials inventory, june 30 $ 59,000

WIP Inventory, june 30 $ 87,700

FG inv, june 30 $36,200

CGS through june 30 $353900

Accounts payable (Materials Suppliers), june 30 $22,100

Manufacturing overhead through june 30 $187,800

Payroll payable, june 30 -0-

withholding and other liabilities, june 30 $11,600

overhead applied through june 30 $176,900

A count of the information of the inventories on hand July 31 shows the following:

Materials Inventory $41,700

WIP inventory $ ?

Finished Goods Inventory $ 39,200

Interviews with various plant and administrative employees August 1 reveal some additional information:

The company currently owes material suppliers $51,800.

The company paid suppliers $38,000 cash during July.

Plant payroll during July totaled $81,700, of which $15,500 was for indirect labor.

Manufacturing overhead incurred through July was $219,900.

Cost of goods sold through July 31 was $401,000.

Indirect Materials cost during July was $2,100.

Overhead during July was underapplied by $1,300.

Determine the balance of the WIP inventory on July 31.

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