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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 2,800 figurines at a cost of $10,918.50. Of this amount, $4,536.00 was from

raw materials added, $4,255.00 for labor and $2,127.50 for overhead. These 2,800 figurines were assumed to be 10.00% complete as to labor and overhead.

Need to fill in yellow blocks;

							January
MOLDING
	Physical Flow of Units
	Work-in-Process - Beginning						2,800
	Units Started this Period						23,000
	Units to Account for						25,8000
	Total transferred out						19800 units	{12.01}
	Work-in-Process - Ending						6,000 units	{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 units transferred, material and conversion (Round to two places, $###,###.## )							{12.11}

Variable Manufacturing Unit Cost 20x1 Cost 20x2 Cost Rounded to 2 Decimal Places Lamp Kit Labor Variable Overhead 16 2 Projected Percent Increase 6% 6% 3.50% $16.96 $2.12 $2.07 {4.01) {4.02) {4.03) 2 Projected Variable Manufacturing Cost Per Unit 20 $21.15 {4.04) Total Variable Cost Per Unit 20x1 Cost 20x2 Cost Rounded to 2 Decimal Places Projected Percent Increase 3.50% 2.00% 3 Variable Selling Variable Administrative Projected Variable Manufacturing Unit Cost 2 3.11 2.041 21.15 {4.05) {4.06) {4.04) Projected Total Variable Cost Per Unit 26.30 {4.07} Schedule of Fixed Costs 20x1 Cost 20x2 Cost Projected Percent Increase $ 280,000.00 {4.08) lamps @_) Fixed Overhead (normal capacity of Fixed Selling Fixed Administrative $ 39,000.00 44,000.00 {4.09) {4.10) $ Projected Total Fixed Costs $ 363,000.00 (4.11} Variable Manufacturing Unit Cost 20x1 Cost 20x2 Cost Rounded to 2 Decimal Places Lamp Kit Labor Variable Overhead 16 2 Projected Percent Increase 6% 6% 3.50% $16.96 $2.12 $2.07 {4.01) {4.02) {4.03) 2 Projected Variable Manufacturing Cost Per Unit 20 $21.15 {4.04) Total Variable Cost Per Unit 20x1 Cost 20x2 Cost Rounded to 2 Decimal Places Projected Percent Increase 3.50% 2.00% 3 Variable Selling Variable Administrative Projected Variable Manufacturing Unit Cost 2 3.11 2.041 21.15 {4.05) {4.06) {4.04) Projected Total Variable Cost Per Unit 26.30 {4.07} Schedule of Fixed Costs 20x1 Cost 20x2 Cost Projected Percent Increase $ 280,000.00 {4.08) lamps @_) Fixed Overhead (normal capacity of Fixed Selling Fixed Administrative $ 39,000.00 44,000.00 {4.09) {4.10) $ Projected Total Fixed Costs $ 363,000.00 (4.11}

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