Question #3 ( 11 marks) A job cost sheet for Norngren Company is shown below: Job No. 5 Direct Materials For 2,000 Units | Direct || Manufacturing Labour | Overhead Date Beginning Balance 01-Jan $ 4,200 08-Jan 12-Jan 25-Jan 27-Jan $ 3,925 $ 6,000 6,000 8,500 2,000 4,000 11,925 18,500 6,375 3,000 13,575 Cost of completed job: Direct materials $11,925 Direct labour 18,500 Manufacturing overhead 13,575 Total cost $44.000 Unit cost ($44,000 - 2,000) $ 22 Instructions: 1. On the basis of the foregoing data, answer the following questions: a. What was the balance of Work in Process on January 1 if this was the only unfinished job? b. If manufacturing overhead is applied on the basis of direct labour cost, what was the overhead rate used in each year? 2. Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 5