On january 1, hessler company’s work in process account had a balance of $18,000. during the year, direct materials costing $35,000 were placed into production. direct labor cost for the year was $60,000. the predetermined overhead rate for the year was set at 150% of direct labor cost. actual overhead costs for the year totaled $92,000. jobs costing $190,000 to manufacture according to their job cost sheets were completed during the year. on december 31, the balance in the work in process inventory account was: