Below is a cost sheet of a Job Order for a company Using this information, answer the following questions 1. What is the Balance of the Inventory in Process account at January 1, assuming that is the only unfinished job. 2. Prepare Summary Journal Entries as of January 31 to record transactions relevant to Work No.99

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Job No. 99 For 2,000 Units Manufacturing Overhead Direct Direct Labor Date Materials Beg. bal. Jan. 1 4,105 6,000 4,200 8 6,000 12 8,500 6,375 25 2,000 27 4,000 3,000 12,105 18,500 13,575 Cost of completed job: Direct materials $12,105 18,500 13,575 Direct labor Manufacturing overhead Total cost $44,180 Unit cost ($44,180 ÷ 2,000) $ 22.09 Job No. 99 For 2,000 Units Manufacturing Overhead Direct Direct Labor Date Materials Beg. bal. Jan. 1 4,105 6,000 4,200 8 6,000 12 8,500 6,375 25 2,000 27 4,000 3,000 12,105 18,500 13,575 Cost of completed job: Direct materials $12,105 18,500 13,575 Direct labor Manufacturing overhead Total cost $44,180 Unit cost ($44,180 ÷ 2,000) $ 22.09

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