ASSIGNMENT RESOURCES Exercise 15-3 HW 15 Exercise 15-3 Problem 15-1A Problem 15-4A Your answer is partially correct. Try again. A job order cost sheet for Ryan Company is shown below. Review Score Review Results by Study Objective Job No. 92 For 2,000 Units Direct Manufacturing Overhead Direct Date Materials Labor Beg. bal. Jan. 1 6,700 6,420 4,494 8 6,420 12 4,800 6,400 25 2,500 3,000 4,000 27 | 16,820 15,620 12,294 Cost of completed job: Direct materials $15,620 16,820 Direct labor Manufacturing overhead 12,294 $44,734 Total cost $22.37 Unit cost ($44,734 +2,000) (a) On the basis of the foregoing data, answer the following questions. PIaTIuiaccurmy oveTIcou ES $44,734 Total cost $22.37 Unit cost ($44,734 +2,000) (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? dy 17,614 Balance in Work in Process Inventory on January 1 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answer Current year Last year 75% 70% Overhead rate (b) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92. (Credit account titles a not indent manually.) Credit Debit Account Titles and Explanation Date Jan. 31 Work in Process Inventory Raw Materials Inventory (To record raw materials used) 31 Work in Process Inventory Account Titles and Explanation Date Debit Credit Jan. 31 Work in Process Inventory Raw Materials Inventory (To record raw materials used) 31 Work in Process Inventory Factory Labor (To record factory labor used) 31 Work in Process Inventory Manufacturing Overhead (To record manufacturing overhead) 31 Finished Goods Inventory Work in Process Inventory (To record job completed)