A job order cost sheet for Sheridan Company is shown below. (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to Odecimal places, es. 55\%) (b) Prepare summpry entries at January 31 to record the current year's transactions pertaining to Job Na. 92 . (List all debit entries before credit entries. Credit account titles are automatically indented wheri amount is entered. Do not indent manually.) (a) On the basis of this 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 Irwentory on January 1 S (To record raw materials used) 31 (To record factory labor used) 31 (To record manufacturing overhead) 31 (To record job completed)