A job order cost sheet for Lowry Company is shown below Job No. 92 For 2,000 Units Direct Materials Labor Direct Manufacturing Date Overhead Beg. bal Jan. 1 8 12 25 27 5,616 7,100 7,200 7,200 2,300 8,900 7,209 4,600 16,600 20,700 3,726 16,551 Cost of completed job $16,600 20,700 16,551 $53,851 $26.93 Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($53,851/2,000) (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 January1