3. Process Costing - Balance Sheet accounts, ending balances (2pts; 0.5pts each balance): Frozen Britain, Corp. makes ice cream sandwiches in sequential processes, mixing and freezing. It uses process costing to account for production costs during each period. Raw materials includes both direct and indirect materials. The following is information obtained from the source documents for Frozen Britain for the month of December: Raw materials purchased Raw materials inventory, beginning balance $671,440 $56,350 Direct materials used - Mixing Department $598,030 Direct materials used - Freezing Department $75,110 Direct labor used - Mixing Department $129,000 Direct labor used - Freezing Department $39,020 Applied Overhead - Mixing Department (@80% of department DL costs) $103,200 Applied Overhead - Freezing Department (@80% of department DL costs) $31,216 Indirect materials used Indirect labor used $3,410 $28,040 Other Factory overhead costs - Actual (e.g. factory rent, factory utilities) Work in process (WIP) inventory, beginning balance - Mixing Department Work in process (WIP) inventory, beginning balance - Freezing Department $102,940 $37,090 $29,380 Costs assigned to units completed and transferred out of Mixing Department to the Freezing Department $820,910