MOLDING Physical Flow of Units Work-in-Process - Beginning Units Started this Period Units to Account for Total transferred out 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 unilormly throughout. Month of January Selected information for January is presented below. Note that the appled overhead rate was 50% of direct labor costs in the molding department. Molding Department Goods in-process as of January 1 were 3,300 figurines at a cost of $60,720.00. Of this amount, $52,800.00 was from rew materials added, $5,280.00 for labor and $2,640.00 for overhead. These 3,300 figurines were assumed to be 80.00% complete as to labor and overhead. During January, 22,500 units were started, $365,175.00 of materials and $42.720.00 of labor costs were incurred. The 4,500 figurines that were in-process at the end of January were assumed to be 60.00% complete to labor and overhead. A figurines in January passed inspection