Exercise 15-3 A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Direct Materials Labor Direct Manufacturing Date Overhead Beg. bal. Jan. 1 6,500 6,280 6,280 4,396 12 25 27 7,140 3,000 4,400 3,740 15,780 19,080 15,276 Cost of completed job: $15,780 19,080 15,276 Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($50,136 2,000) $25.07 (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? Balance in Work in Process Inventory on January 1 (2) If manufacturing overhead is applied on the basis of d irect labor cost, what overhead rate was used in eac 8 0 8 4 DF GHK