A job order cost sheet for Vaughn Company is as follows. Job No. 92 For 2.000 Units Direct Direct Manufacturing Date Material Labor Overhead Beg, bal, Jan. 1 6.700 7.200 5.544 7.200 12 9.200 7.728 25 2.900 27 4.100 3.444 16,800 20.500 16.716 Cost of completed job: Direct materials $16,800 Direct labor 20.500 Manufacturing overhead 16.716 Total cost $54,016 Unit cost ($54016 + 2.000) $27.01On the basis of this data, answer the following questions. [a) 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 19444 (b) 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. 55KJ Last year Current year Overhead rate