A job order cost sheet for Pharoah Company is shown below. Job No. 92 Beg. bal. Jan. 1 8 12 25 Date 27 Direct Materials 5,700 7,000 2.200 14.900 Direct Labor 7.000 10,000 4.000 21.000 For 2,000 Units Manufacturing Overhead 4.900 8.500 3.400 16.800

A job order cost sheet for Pharoah 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 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round a Odecimal places, es. 55\%) Date Account Titles and Explanation Debit Credit Jan. 31 (To record raw materials used) 31 (To record factory labor used) 31 (To record manufacturing overhead) (To record manufacturing overhead) 31 (To record job completed)