The balance in the Work in Process Inventory on January 1, if this was the only unfinished job for Ryan Company, is $18,200.
The work-in-process inventory is made up of the costs of direct materials, direct labor, and manufacturing overhead at the beginning or end of the period.
Work in Process Balance on January 1:
Direct materials $6,300
Direct labor $7,000
Manufacturing overhead $4,900
Total = $18,200
What was the balance in the Work in Process Inventory on January 1 if this was the only unfinished job?
Thus, the balance in the Work in Process Inventory on January 1, if this was the only unfinished job for Ryan Company, is $18,200.
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