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 3,000 figurines at a cost of $49,800.00. Of this amount, $48,000.00 was from raw materials added, $1,200.00 for labor and $600.00 for overhead. These 3,000 figurines were assumed to be 20.00% complete as to labor and overhead. During January, 26,000 units were started, $419,900.00 of materials and $49,800.00 of labor costs were incurred. The 5,000 figurines that were in-process at the end of January were assumed to be 30.00% complete to labor and overhead. All figurines in January passed inspection. MOLDING 13 Physical Flow of Units 18 Work-in-Process- Beginning Units Started this Period Units to Account for Total transferred out Work-in-Process - Ending Total Accounted for 5 Total cost in the Beginning Inventory (Round to two places, 16 56 57 58 19 50 51 52 54 Total cost of Material this period (Round to two places, 56 Equivalent Units Material (Round to three places, 66 60 Total cost of Conversion this period (Round to two places, sus JU) 61 62 63 64 65 Total cost to account for (Round to two places, 36882 Equivalent Units Conversion (Round to three places, 67 69 Cost per equivalent unit of Material this period (Round to seven places, as SUB0000) 70 January 3,000 units 25,000 units 29.000 units 5,000 units 29,000 units (1201) (12.02) (12.03) (1204) (1205) (12.06) (1207) (12.08) (12.09) (12.10) (12.11) (12.12) Cost per equivalent unit of Conversion this period (Round to seven places, sens 13 95 Cost of the units transferred, material and convesion (Round to two places, sem.) Cost of the ending Inventory, material and convesion (Round to two places, Ses8.000.00) Total Cost accounted for (Round to two places, S) (1213) (1214) (1215) (1216)