A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Direct Materials Direct Labor Manufacturing Overhead Date Beg. bal. Jan. 1 5,200 4,900 7,000 7,000 | 10,000 12 8,000 25 2,900 27 5,000 4,000 22,000 15,100 16,900 Cost of completed job: Direct materials $15,100 Direct labor 22,000 Manufacturing overhead 16,900 Total cost $54,000 Unit cost ($54,000 + 2,000) $27.00 (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? 17100 Balance in Work in Process Inventory on January 1 CALCULATOR HESSAGE HY INSTRUCTOR FULL SCREEN PRINTER VERS3ON BACE (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to o decimal places, eg. 55 % .) Last year Current year Overhead rate (b) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92. (Credit account titles are automatically indented when am is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 Raw Materials Inventory (To record raw materials used) 31 Factory Labor (To record factory labor used) 31 Manufacturing Overhead (To record manufacturing overhead) e50A 31 925/2 search Raw Materials Inventory (To record raw materials used) 31 Factory Labor (To record factory labor used) X 31 X Manufacturing overhead (To record manufacturing overhead) 31 (To record job completed) Open Show Work ick if you would like to Show Work for this question: SHOW LIST OF ACCOUNTS ww