Deco Corporation uses a job costing system. On January 1, Deco corporations work in process inventory account had a balance of $75,800. During the year, materials requisitioned for use in production amounted to $120,400, of which $83,000 represented direct materials. Factory wages for the period were $231,800, of which $219,300 were for direct labor. Manufacturing overhead is allocated on the basis of 90% of direct labor cost. Actual overhead cost for the year was $125,700. Jobs costing $256,800 were completed during the year.
The December 31 work in process inventory balance is
Answer : $318670
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