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Well Im not sure if this is all the info needed to answer these questions, but let me know if Im missing something necessary. Pease

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Well Im not sure if this is all the info needed to answer these questions, but let me know if Im missing something necessary. Pease answer the yellow boxes and follow the rounding instructions for each question. Thanks for your help!

I See The Light Projected Income Statement For the Period Ending December 31, 2021 $ 1,125,000.00 750,000.00 $ 375,000.00 Sales 25,000 lamps @ $45.00 Cost of Goods Sold @ $30.00 Gross Profit Selling Expenses: Fixed Variable (Commission per unit) $3.00 Administrative Expenses: Fixed Variable @ $2.00 Total Selling and Administrative Expenses: Net Profit $23,000.00 75,000.00 $ 98,000.00 $ 42,000.00 50,000.00 92,000.00 190,000.00 $ 185,000.00 I See The Light Projected Balance Sheet As of December 31, 2021 $ 34,710.00 67,500.00 Current Assets Cash Accounts Receivable Inventory Raw Material Lamp Kits Work in Process Finished Goods Total Current Assets 8,000.00 500 @ $16.00 0 3000 @ $30.00 $ 90,000.00 200,210.00 Fixed Assets Equipment Accumulated Depreciation Total Fixed Assets Total Assets $ 20,000.00 6,800.00 13,200.00 213,410.00 $ $ 54,000.00 54,000.00 Current Liabilities Accounts Payable Total Liabilities Stockholder's Equity Common Stock Retained Earnings Total Stockholder's Equity Total Liabilities and Stockholder's Equity $ 12,000.00 147,410.00 159.410.00 213.410.00 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 3,100 figurines at a cost of $19,108.00. Of this amount, $4,588.00 was from raw materials added, $9,680.00 for labor and $4,840.00 for overhead. These 3,100 figurines were assumed to be 20.00% complete as to labor and overhead. During January, 22,000 units were started, $34,066.00 of materials and $63,470.00 of labor costs were incurred. The 7,000 figurines that were in-process at the end of January were assumed to be 40.00% complete to labor and overhead. All figurines in January passed inspection. January 5 6 7 8 MOLDING 9 0 Physical Flow of Units 1 21 Work-in-Process - Beginning 2 Units Started this Period 3 Units to Account for 24 25 Total transferred out 35 Work-in-Process - Ending 36 Total Accounted for 37 38 12.01 12.02 12.031 9 Equivalent Units Material (Round to two places, ##.###.##) 50 51 52 Equivalent Units Conversion (Round to two places, ##.###.##) 53 12.04 12.05 112.06 112.07 84 $5 Total cost of Material (Round to two places, ##.###.##) 56 57 7 Total cost of Conversion (Round to two places, ##.###.##) 8 Total cost to account for (Round to two places, ##.###.##) 29 30 31 1 Cost per equivalent unit of Material (Round to two places, ###.##) 42 13 4 Cost per equivalent unit of Conversion (Round to two places, ###.##) 112.08 12.03 95 05 06 07 08 09 9 20 21 22 Cost of the ending inventory, material and convesion (Round to two places, $###.###.## 12.10; 3 34 35 36 Cost of the units transferred, material and convesion (Round to two places, $###.###.## 37 38 39 112.11

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