Job No. 92 For 2,000 Units Direct Direct Manufacturing Date Materials Labour Overhead Beginning Balance January 1 $4,088 $5,300 $3,180 8 6,250 12 8,630 6,904 25 2,090 27 4,810 3,848 12,428 18,740 13,932 Cost of completed job: Direct materials Direct labour Manufacturing overhead Total cost $12,428 18,740 13,932 $45,100 On the basis of these 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? The balance in Work in Process Inventory $ 2. If manufacturing overhead is applied on the basis of direct labour cost, what overhead rate was used in each year? Last year % Overhead rate This year %