A job order cost sheet for Ryan Company is shown below. Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead Date Beg. bal. Jan. 1 6,300 6,700 4,690 6,700 9,200 7,360 2,600 4,800 20,700 3,840 15,890 15,600 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($52,190 + 2,000) $15,600 20,700 15,890 $52,190 $26.10 (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 January 1 s decimal places, e.g. 55%.) (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to Last year current year w Study Overhead rate countries are automaty (D) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92. (Cred not indent manually Credit Date Account Titles and Explanation Jan. 31 (To record raw materials used) (to record factory laborised) (to record marufacturing overtread) To record completed) Click if you would like to show Work for this question: Open Show Work