A job order cost sheet for Rolen Company is shown below.

Job No. 92 For 2,000 units
Date

Direct materials
Direct labor

Manufacturing Overhead
Beg. Bal. Jan. 1 5,000 6,000 4,500
8 6,000
12 8,000 6,400
25 2,000
27


4,000

3,200
13,000 18,000 14,100

Cost of completed job
Direct materials $13,000
Direct labor 18,000
Manufacturing overhead

14,100
Total cost

$45,100
Unit cost ($45,100 ÷ 2,000)

$22.55



On the basis of the foregoing data answer the following questions.

What was the balance in Work in Process Inventory on January 1 if this was the only unfinished job?
$

If manufacturing overhead is applied on the basis of direct labor cost, what overhead rate was used in each year?

Last Year %
This Year %




Prepare summary entries at January 31 to record the current year's transactions pertaining to Job No. 92.

Date Account/Description Debit Credit
Jan. 31

(To record raw materials inventory.)
Jan. 31

(To record factory labor.)
Jan. 31

(To record manufacturing overhead.)
Jan. 31

(To record completed job.)