A job 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 imventory 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 0 decimal places, e.g. 55\%.) (2) if manufacturing overhead is applied on the basis of direct babor cost, whut overhead rate was used in each vear? (flound an rwers to O decimal places, e.g. 55\%. (b) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92. (Credit account tities are automotically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation tan31 (To record raw msterials used) 31 (To record factocy labor used) (To record manufacturing overhead) 31 (To record job completed)