Ajob order cost sheet for Ryan Company is shown below. Job No. 92 Direct Materials 6.200 6.400 Direct Labor 6,400 For 2.000 Units Manufacturing Overhead 5.056 Date Beg. bal Jan. 1 8 12 25 27 9,200 7.544 2.800 4300 19.900 15.400 3.526 16. 126 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost (551426 + 2,000) $15.400 19.900 16.126 $51.426 52571 Gal On the basis of the foregoing data, answer the following questions 1) What was the balance in Work in Process inventary on January 1 it this was the only unfinished job? Balance in Work in Process Inventory on January 5 2 It manufacturing overhead is wooled on the basis of direct labor cost what overhead rate was used in each year (Round answers to decimal places. c. 55% Last year Current Overhadrate thi Prepare mentrestanty 1 to Fecord the current contertaining to sob Ne Credit account titles are automatically fedented whes amount is entered De not indent mally) Date Account Titles and Explanation Debit Credit rectam