Linoi Sivan 4872 PART 4 Process Costing - Weighted Average General Information The I See The Light Company has a related company that produces the figurines. They use process costing in the molding department. The factory overhead is applied at a rate of 50% of direct labor dollars. The material is added at the beginning of the process. The labor and overhead costs are assumed to be added uniformly throughout. Month of January Selected information for January is presented below. Note that the applied overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,600 figurines at a cost of $47,898.00. Of this amount, $5,328.00 was from raw materials added, $28,380.00 for labor and $14,190.00 for overhead. These 3,600 figurines were assumed to be 60.00% complete as to labor and overhead. During January, 21,500 units were started, $33,326.00 of materials and $43,250.00 of labor costs were incurred. The 4,000 figurines that were in-process at the end of January were assumed to be 90.00% complete to labor and overhead. All figurines in January passed inspection. MOLDING Physical Flow of Units Work in Process i ng Unit Sured this period Units to Account for 212500 25.100 Total transferred out Work Process Ending Total Accounted for 21.100 4.000 units 25.100 12.01) (12.02) Equivalent Units Material (Round to two plase www. 25,100.00 (12.03) Equivalent Units Conversion (Round to two places, NN NNW 24.700.00 (12.041 Total cost o Material Round to two places. 1865400 (12.05) Total cost of Conversion (Round to two places, 0.000.08) Total cost to account for (Round to two places, 0.000.00) 107.445001 146.099.00 (12.06) (12.07 Casper equivalent unit of Material Round to two places in (12.08) Cost per equivalent unit of Conversion (Round to two places (12.09 Cost of the ending inventory manal and convenion (Round to two places, SA (12.10 Cost of the units transfiemed, material and convesion Round to two places. S ) (12111