USE THE FOLLOWING INFORMATION TO ANSWER THE NEXT 3 QUESTIONS

The Lucky Company uses a job order costing system. At the beginning of May,

beginning direct materials inventory

was $1,000 and

beginning work-in-process

inventory consisted of Job #1 with accumulated costs of $2,000.

Following are the transactions for May:

May 1

Purchased direct materials on account for $8,000

May 6

Issued direct materials to production as follows:

Job #1

$2,500

Job #2

$2,500

May 10

Charged $6,000 of direct labor cost to Job #1 and $4,000 to Job #2.

May 15

The factory overhead cost incurred during May was $10,000.

May 20

$5,000 of factory overhead cost was applied to Job #1 and $4,000 was

applied to Job #2.

May 28

Job #1 was completed and transferred to finished goods.

May 30

Job #1 was sold for $20,000 cash.

18.

The balance in the work-in-process inventory account at the end of May will be