A job order cost sheet for Ryan Company is shown below. Job No. 92 Date Beg. bal. Jan. 1 8 12 25 Total cost 27 Direct Materials 6,300 7,000 Cost of completed job: Direct materials Direct labor 2,600 15,900 Manufacturing overhead Unit cost ($49,400 + 2,000) Direct Labor 7,000 8,000 4,000 19,000 $15,900 19,000 14,500 $49,400 $24.70 For 2,000 Units Manufacturing Overhead 4,900 Last year 6,400 3,200 14,500 (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 $ (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, e.g. 55%.) Current year

Ajob order cost sheet for Ryan Company is shown below. (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 unfinishediob? Balance in Work in Process inventory on January 1 (2) It manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each yeak? (Round anwwers to Odecimal places, es 55*) (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 amount is entered. Do not indent manually)