I See The Light - Weighted Average

2 3 Month of January 5 Selected information for January is presented below. Note that the applied overhead rate was 5 50% of direct labor costs in the molding department. 5 . Molding Department 3 Goods in-process as of January 1 were 3,500 figurines at a cost of $48,857.50. Of this amount, $5,320.00 was from raw materials added, $29,025.00 for labor and $14,512.50 for overhead. These 3,500 figurines were assumed to be 60.00% complete as to labor and overhead. 3 During January, 21,500 units were started, $33,680.00 of materials and $42,975.00 of labor costs were incurred. . The 5,000 figurines that were in-process at the end of January were assumed to be 80.00% complete to labor and overhead. All figurines in January passed inspection. Work-in-Process - Beginning Units Started this Period Units to Account for 3,500 units 21,500 units 25,000 units Total transferred out Work-in-Process - Ending Total Accounted for 20,000 units 5,000 units 25,000 units Equivalent Units Material (Round to two places, ##,###.##) 25,000.00 Equivalent Units Conversion (Round to two places, ###**#.##) 24,000.00 Total cost of Material (Round to two places, ##.###.###) $ 39,000.00 Total cost of Conversion (Round to two places, ##.###.##) Total cost to account for (Round to two places, ##.###.##) Cost per equivalent unit of Material (Round to two places, ###.##) Cost per equivalent unit of Conversion (Round to two places, ####.##) Cost of the ending inventory, material and convesion (Round to two places, $###,###.##) Cost of the units transferred, material and convesion (Round to two places, $#**#,###.##)