PART 6 Process Costing - Weighted Average General Information The Betty's Design 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, labor, and overhead costs are added uniformly throughout the process. 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 was 2,900 figurines at a cost of $54,490.25. Of this amount, $1,334.00 was from raw materials added, $35,437.50 for labor and $17,718.75 for overhead. These 2,900 figurines were assumed to be 70.00% complete as to material, labor, and overhead. During January, 22,500 units were started, $11,250.00 of materials and $9,003.75 of labor costs were incurred. The 4,000 figurines that were in-process at the end of January were assumed to be 20.00% complete to material, labor, and overhead. All figurines in January passed inspection. Physical Flow of Units \begin{tabular}{|l|l|l|} \hline Work-in-Process - Beginning & & units \\ \hline Units Started This Period & units \\ \hline Units To Account For & units \\ \hline \end{tabular} Equivalent Units Material (Round to three places, \#\#\#\#\#.\#\#\#) {12.03} Equivalent Units Conversion {12.04} (Round to three places, \#\#,\#\#\#.\#\#) Total Cost of Materia {12.05} (Round to two places, \#\#\#\#\#.\#\#) Total Cost of Conversion $ {12.06} (Round to two places, \#\#,\#\#\#.\#\#) {12.07} (Round to two places, \#\#\#\#\#\#\#\#) Cost per Equivalent Unit of Material {12.08} (Round to seven places, \#\#\#.\#\#\#\#\#\#) Cost per Equivalent Unit of Conversion $ {12.09} (Round to seven places, \#\#\#.\#\#\#\#\#\#) Cost of the ending inventory, material and conversion {12.10} (Round to two places, \$ \#\#,\#\#\#.\#\#) Cost of the units transferred, material and conversion {12.11}