Your answer is partially correct. Try again. A job order cost sheet for Ryan Company is shown below. Job No. 92 For 2,000 Units Date Beg. bal. Jan. Direct Direct Materials Labor Manufacturing Overhead 5,100 6,000 4,200 1 8 6,000 is 12 6,000 4,500 25 2,100 sh 27 4,000 3,000 13,200 16,000 11,700 M Cost of completed job: Direct materials Direct labor Manufacturing overhead Total cost Unit cost ($40,900 +2,000) $13,200 16,000 11,700. $40,900 $20.45 lete rials (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 $115300 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to 0 decimal places, e.g. 55%.)