*Please provide the correct answers for p2.*

A job cost sheet for Ivanhoe Company is shown below. (a) - Your answer is partially correct. 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? 2. If manufacturing overhead is applied on the basis of direct labour cost, what overhead rate was used in each year