A job order cost sheet for Crane Company is shown below.

Job No. 92						For 2,000 Units
Date		Direct Materials		Direct Labor		Manufacturing Overhead
Beg. bal. Jan. 1		6,000		7,000		4,900
8		7,000
12				10,000		8,500
25		2,500
27				4,000		3,400
		15,500		21,000		16,800

Cost of completed job:
Direct materials		$15,500
Direct labor		21,000
Manufacturing overhead		16,800
Total cost		$53,300
Unit cost ($53,300 2,000)		$26.65

(a) On the basis of this 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		$enter a dollar amount

(2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to 0 decimal places, e.g. 55%.)

		Last year			Current year
Overhead rate		enter percentages rounded to 0 decimal places	%		enter percentages rounded to 0 decimal places	%

(b) Prepare summary entries at January 31 to record the current years transactions pertaining to Job No. 92. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 31	enter an account title to record raw materials used	enter a debit amount	enter a credit amount
	enter an account title to record raw materials used	enter a debit amount	enter a credit amount
	(To record raw materials used)
31	enter an account title to record factory labor used	enter a debit amount	enter a credit amount
	enter an account title to record factory labor used	enter a debit amount	enter a credit amount
	(To record factory labor used)
31	enter an account title to record manufacturing overhead	enter a debit amount	enter a credit amount
	enter an account title to record manufacturing overhead	enter a debit amount	enter a credit amount
	(To record manufacturing overhead)
31	enter an account title to record job completed	enter a debit amount	enter a credit amount
	enter an account title to record job completed	enter a debit amount	enter a credit amount
	(To record job completed)