E20.3 (LO 1, 2, 3, 4), AP A job cost sheet for Ryan Company is shown below.

Job No. 92				For 2,000 Units
Date		Direct Materials	Direct Labor	Manufacturing Overhead
Beg. bal. Jan.	1	5,000	6,000	4,200
	8	6,000
	12		8,000	6,400
	25	2,000
	27		4,000	3,200
		13,000	18,000	13,800
Cost of completed job:
Direct materials				$13,000
Direct labor				18,000
Manufacturing overhead				13,800
Total cost				$44,800
Unit cost ($44,800 2,000)				$ 22.40

Instructions

On the basis of this data, answer the following questions.

1. What was the balance in the Work in Process Inventory on January 1 if this was the only unfinished job?

2. If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used each year?

• Prepare summary entries on January 31 to record the current years transactions pertaining to Job No. 92.

Analyze costs of manufacturing and determine missing amounts.