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$13$ The I See The Light Company has a related company that produces the figurines. They use process costing

$14$ in the molding department. The factory overhead is applied at a rate of $50\%$ of direct labor dollars.

$15$ The material is added at the beginning of the process. The labor and overhead costs are assumed

$19$ 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 $$51,925\mathrm{.}00.$ Of this amount, $$49,600\mathrm{.}00$ was from raw materials added, $$1,550\mathrm{.}00$ for labor and $$775\mathrm{.}00$ for overhead. These $3,100$ figurines were assumed to be $25\mathrm{.}00\%$ complete as to labor and overhead.

During January, $21,500$ units were started, $$347,655\mathrm{.}00$ of materials and $$39,850\mathrm{.}00$ of labor costs were incurred.

$51$

$52$ The $6,500$ figurines that were in$-$process at the end of January were assumed to be $40\mathrm{.}00\%$ complete to

$53$ labor and overhead.

$54$

$55$ All figurines in January passed inspection.

MOLDING

Physical Flow of Units

Work$-$in$-$Process $-$ Beginning

Units Started this Period

Units to Aceount for

Total transferred out

Work$-$in$-$Process $-$ Ending

Total $$coounted for

$\backslash$table$[[,,,,,],[,,,,,],[,,,,,],[,,,,,],[,,,,,],[,,,,$$$,]]$

$\backslash$table$[[,,,,,],[,,,,,],[,,,,,],[,,,,,],[$Total cost of Material this period $($Round to two places,,,,,,$],[,,,,,],[,,,,,],[,,,,,]]$

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