Problem 7-49 (Static) Applying Overhead Using a Predetermined Rate (LO 7-2)

Louisiana Metals uses a job costing system. The company applies manufacturing overhead using a predetermined rate based on direct labor cost. The following debits (credits) appeared in the Work-in-Process Inventory for June.

June 1	Balance	???
For the month	Direct labor	$ 33,000
For the month	Direct materials	43,200
For the month	Manufacturing overhead	19,800
For the month	To finished goods	(78,700)

Job LM-12, the only job still in production at the end of June, has been charged $13,200 in direct materials cost and $12,400 in direct labor cost.

Required:

What was the beginning balance in Work-in-Process Inventory?