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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 $62,460.00. Of this amount, $57,600.00 was from raw materials added, $3,240,00 for labor and $1,620.00 for overhead. These 3,600 figurines were assumed to be 50.00% complete as to labor and overhead. During January, 22,000 units were started, $354,420.00 of materials and $41,760.00 of labor costs were incurred. The 6,000 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. I See The Light Projected Income Statement For the Period Ending December 31, 20x1 MOLDEN Janusy physicat Flow of Unlts Work-h-Procest + Begining Unts svarted thits Period Units to Aceount for Total transfered out Work th Process - Ending Total Acocunted for (12.05) {12.07 \begin{tabular}{|l|l|l|l|l|l|} \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} (1203) [12.09] 412.107 [12.11\} (12.12) (12.13] To keep records of the actual cost of a special order job, a Job Order Cost System has been developed Overhead is applied at the rate of 50% of the direct labor cost. Job Order Costing Section On January 1, 20x2, Division S began Job 2407 for the Client, THE BIG CHILDREN STORE. The job called for 4,000 customized lamps. The following set of transactions occurred from January 5 until the job was completed: 5-Jan Purchased 4,075 Lamp Kits (i) $16.25 per kit. 9-Jan 4,175 sets of Lamp Kits were requisitioned, including all those in the Beginning Inventory. 17.Jan Payroll of 580 Direct Labor Hours (a $9.55 per hour. 30-Jan Payroll of 630 Direct Labor Hours \& $9.80 per hour. 30-Jan 3,990 lamps were completed and shipped. All materials requisitioned were used or scrapped, and are a cost of normal processing Round to two places, Cost of Nimat Mnitacial Inewirmat in Monufarturine inh 2an77 {13.01} Cost of lak san7 {13.02} {13.03} Costo {13.04}