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Q,14 Could somebody help me plz? Ajob order cost...

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Accounting

Q,14 Could somebody help me plz? image
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Ajob order cost sheet for Ryan Company is shown below. (a) On the basis of the foregoing data, anower 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 Workin Process Inventory on Jamuary 1 i $ (2) If manufacturing overhead is applied on the basis of direct labor cost, what overhesd rate was: used in each year? (Round answes to 0 decimal plocer, es 55K ) (b) Prepare sumenary entries at January 31 to record the current year's transaction pertaining to Job No, 72 (Credit occount tieles ore automatically indented when amount is entered, Do not indert manually? outomatically indented when amount is entered. Do not indent manuolly.) Date Account Titles and Explanation Debit Credit tan,31 (To record raw materials used) 31 (To record factory labor used) 31 (To record manufacturing overhead) (To record raw materials used) 31 (To record factony sabor used) 31 (To record manufacturing overhead) 31. infareread inh completend

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