YIP Test Systems manufactures automated testing equipment. The company uses a job order costing system and applies overhead on the basis of machine hours (MH).

At the beginning of the year, estimated manufacturing overhead was $1,960,000, and the estimated machine hours were 98,000. Data regarding several jobs at YIP are presented below.

	Beginning Balance	Direct Materials	Direct Labor	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	34,350	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

Com pleted jobs had been delivered to customers except for SL-205

Required: Calculate cost of each job. (hint) first calculate MOH rate and then allocate

(Beg inv + DM + DL + ApplieOH)

What was the balance in Finished Goods inventory at the end of January? ($192,350)