Assignment:
Cost data for the month of March follow.
1. Purchased supplies on account $3,900.
2. Issued supplies $2,900 (60% direct and 40% indirect).
3. Assigned labor costs based on time cards for the month which indicated labor costs of $76,600 (80% direct and 20% indirect).
4. Operating overhead costs incurred for cash totaled $49,800.
5. Operating overhead is applied at a rate of 90% of direct labor cost.
6. Work completed totaled $81,300.
Determine the balance of the Service Contracts in process account.