View Policies Current Attempt in Progress Ajob order cost sheet for Ryan Company is shown below, Job No. 92 Direct Materials Direct Labor For 2,000 Units Manufacturing Overhead 4,200 Date Beg. bal. Jan. 1 5,200 6,000 00 6,000 12 10,000 7.500 25 2.700 27 4,000 3,000 13,900 20,000 14.700 113,900 Cost of completed job: Direct materials Direct labor Manufacturing overhead 20.000 14,700 Total cost $48,600 Unit cost ($48,600 + 2,000) $24.300 (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 unfinist $ 48600 Balance in Work in Process Inventory on January 1 (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate wa Question 4 of 4 - / 40 E O decimal places, eg. 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) 31 (To record factory labdk used) 31 (To record manufacturing overhead) 31 (To record job completed) e Textbook and Media List of Accounts