A job ordar cost shect for Oriole Company is shown belaw. \begin{tabular}{|l|r|r|r|} \hline \multicolumn{1}{|c|}{ Job No. 92 } & & For 2,000 Units \\ \hline \multicolumn{1}{|c|}{ Dete } & DirectMaterials & DirectLebor & MenufacturingOverhead \\ \hline Bez. bel. Jan.1 & 6,500 & 6,000 & 4,200 \\ \hline 8 & 6,000 & & \\ \hline 12 & 3,000 & 6,000 & 6,800 \\ \hline 25 & 15,500 & 18,000 & 14,400 \\ \hline 27 & & & \\ \hline \end{tabular} \begin{tabular}{lr} \hline Cost of completed job: & \\ \hline Direct materials & $15,500 \\ Direct bbor & 18,000 \\ Manufacturing overhend & 14,400 \\ \hline Totel coet & $47,900 \\ \hline Unit cost ($47,900+2,000) & $23.95 \\ \hline \end{tabular} (a) On the besis of this data, ancwer the following questions. (1) What wes the balance in Warkin Process Imentory on January 1 if this wes the only unfinished job? Balance in Work in Process Imentary on Januery 1 (2) If manufacturing overhead is applied on the besis of direct labor cost, what averhead rate was used in each year? (Roundanswest to 0 decimal places, 1555% Lstyear Current year Ovarhead rate (b) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92 (1hst ell debit entrifs Date Account Titles and Explanation Jan. 31 Debit Credilt (To record raw materials used) 31 (To record factory labor used) 31 (To record manufacturing overhead) 31 (To record job completed)