Attemptinprogress Ajob order cost sheet for Sunland Company is shown below. Job No. 92 For 2,000 Units Date Direct Materials Direct Labor Manufacturing Overhead Beg. bal. Jan. 1 5,500 7,000 4,900 8 7,000 12 9,000 7,200 25 2,900 27 4,000 3,200 15,400 20,000 15,300 Cost of completed job: Direct materials $ 15,400 Direct labor 20,000 Manufacturing overhead 15,300 Total cost $ 50,700 Unit cost ($ 50,700 + 2,000) $25.35 (a) On the basis of this 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? A Co che 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 to 0 decimal places, 2.9.55%) Last year Current year %6 Overhead rate (6) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92. (List oll debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 (To record raw materials used) 31 (To record factory labor used) 31 (To record manufacturing overhead) 31 (To record job completed)