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 3,300 figurines at a cost of $54,780.00. Of this amount, $52,800.00 was from raw materials added, $1,320.00 for labor and $660.00 for overhead. These 3,300 figurines were assumed to be 20.00% complete as to labor and overhead. During January, 22,000 units were started, $353,980.00 of materials and $44,480.00 of labor costs were incurred. The 6,000 figurines that were in-process at the end of January were assumed to be 60.00% complete to labor and overhead. All figurines in January passed inspection.