A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Date Direct Materials Direct Manufacturing Labor Overhead Beg. bal. Jan. 1 7,000 8,000 5,600 8 8,000 12 25 27 9,000 7,200 2,900 4,000 3,200 17,900 21,000 16,000 Cost of completed job: Direct materials $17,900 Direct labor 21,000 Manufacturing overhead 16,000 Total cost $54,900 Unit cost ($54,900 + 2,000) $27.45 (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, $