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 5,100 7,000 4,900 8 7,000 12 8,000 6.000 225 2,800 27 5,000 3,750 14,900 20,000 14,650 Cost of completed job: Direct materials $14,900 Direct labor 20,000 Manufacturing overhead 14,650 Total cost $49,550 Unit cost ($49,550 +2,000) $24.78 (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 $ 12000