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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 $33,926.00. Of this amount, $4,526.00 was from
raw materials added, $19,600.00 for labor and $9,800.00 for overhead. These 3,100 figurines were assumed to be
40.00% complete as to labor and overhead.
During January, 24,500 units were started, $39,634.00 of materials and $49,700.00 of labor costs were incurred.
The 7,500 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
Physical Flow of Units
Work-in-Process - Beginning
Units Started this Period
Units to Account for
Total transferred out						{12.01}
Work-in-Process - Ending						{12.02}
Total Accounted for
Equivalent Units Material (Round to two places, ##,###.##)						{12.03}
Equivalent Units Conversion (Round to two places, ##,###.##)						{12.04}
Total cost of Material (Round to two places, ##.###.##)						{12.05}
Total cost of Conversion (Round to two places, ##.###.##)						{12.06}
Total cost to account for (Round to two places, ##.###.##)						{12.07}
Cost per equivalent unit of Material (Round to two places, ###.##)						{12.08}
Cost per equivalent unit of Conversion (Round to two places, ###.##)						{12.09}
Cost of the ending inventory, material and convesion (Round to two places, $###,###.## )						{12.10}
Cost of the units transferred, material and convesion (Round to two places, $###,###.## )						{12.11}

PART 5
	Job Order Costing
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 4,000 Lamp Kits @ $16.40 per kit.
	9-Jan	4,025 sets of Lamp Kits were requisitioned.
	17-Jan	Payroll of 620 Direct Labor Hours @ $9.55 per hour.
	30-Jan	Payroll of 670 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.
	Month End Overhead Information
	Actual Variable Manufacturing Overhead				$1,161.00
	Actual Fixed Manufacturing Overhead				$40,873.45
							Round to two places, $##.##
	Cost of Direct Material Incurred in Manufacturing Job 2407
								{13.01}
	Cost of Direct Labor Incurred in Manufacturing Job 2407
								{13.02}
	Cost of Manufacturing Overhead Applied to Job 2407
								{13.03}
	Cost of manufacturing one lamp
								{13.04}

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