A job order cost sheet for Cullumber Company is shown below. (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$ (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to Odecimal places, e.g. 55\%.) (b) Prepare summary entries at January 31 to record the current year's 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.)