please answer

A job order cost sheet for Ryan Company is shown below. Job No. 92 Direct Materials For 2,000 Units Manufacturing Overhead Direct Labor Date Beg. bal. Jan. 1 6,400 7,000 4,900 8 7,000 12 10,000 7,500 25 2,800 27 4,000 3,000 16,200 21,000 15,400 Cost of completed job: Direct materials $16,200 Direct labor 21,000 Manufacturing overhead 15,400 Total cost $52,600 Unit cost ($52,600 + 2,000) $26.30 Question 1 of 5 0/3 III (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 $ 52.600 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year? (Round answers to O decimal places, es.55%) 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan. 31 (To record raw materials used) uestion 1 of 5 0/3 III Q (To record raw materials used) Vic 31 Que Acco (To record factory labor used) Que Accot. II II III 31 Que Accou (To record manufacturing overhead) Ques Accoun 31 (To record job completed) eTextbook and Media List of Accounts