Movies > New Tab Twitch Weygandt, Accounting Principles, 13e Exercise 20-03 A job order cost sheet for Ryan Company is shown below. Job No. 92 Date Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead 6,000 5,300 6,000 4,200 Beg. bal Jan. 1 8 12 25 27 7,000 5,600 2,500 4,000 3,200 13,000 13,800 17,000 Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($43,800 + 2,000) $13,800 17,000 13,000 $43.800 $21.90 (a) On the basis of the foregoing data, answer the following questions, (1) What was the balance in Work in Process Inventory on January 11 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 direct labor cout, whateverhead rate was used in each year (ound answers to decimal places, e. 35.) Last year Current year Overhead rate Preparemmary entries at January to record the current yaranacions perting to be away Account Titles and Explanation Weygandt, Accounting Principles, 13e Urect ator Manufacturing overhead Total cost Unit cost (543,800 2,000) TUU 13,000 $43,800 $21.90 (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 this was the only finished job? Balance in Work in Process Inventory on January 1 $ (2) 18 manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to decimal places, s. 556.) Last year Current year Overhead rate (b) Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92. (Cretac.com titles are automatically indented whe amount is entered. Do not inde Account Titles and Explanation Debit Date Credit Jan. 31 (To record raw materials used) 31 (Te record factory tabor used) 31 To record manufacturing overhead) 31 (Tercard job completed Question Altesi