Ajob order cost sheet for Marigold Company is shown below. Job No. 92 Direct Materials 5.900 6,600 Direct Labor 6,600 For 2,000 Units Manufacturing Overhead 4,950 Date Beg bal. Jan. 1 8 12 25 27 9.400 7,896 3.100 4,700 20,700 3,948 16,794 15,600 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($53,094 = 2,000) $15.600 20,700 16,794 $53,094 $27 On the basis of the foregoing data, answer the following questions. (a) What was the balance in Workin Process Inventory on January 1 if this was the only unfinished job? Balance in Work in Process Inventory on January 1 $ (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, eg. 55%.) Last year Current year Overhead rate 96 96