A job order cost sheet for Waterway Company is shown below. For 2,000 Units Job No. 92 Direct Direct Manufacturing Date Materials Labor Overhead Beg. bal. Jan. 1 6.600 7,000 4,900 8 7,000 12 10,000 8,000 25 2.300 27 5,000 4,000 15,900 22,000 16,900 Cost of completed job: Direct materials $15,900 Direct labor 22,000 Manufacturing overhead 16,900 Total cost $54,800 Unit cost ($54,800 2,000) $27.40 (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?