(2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Ro) to 0 decimal places, e.g. 55%.) (b) Prepare summary entries at January 31 to record the ctrrent year's transactions pertaining to Job No. 92. (Credit acc are automatically indented when amount is entered. Do not indent manually.) (a) On the basis of the foregoing data, answer the following questions. (1) What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job? Balance in Work in Process Inventory on January 1 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Rou to 0 decimal places, e.g. 55%.) A job order cost sheet for Ryan Company is shown below. atically indented when amount is entered. Do not indent manually.)