Process Costing - First In First Out

The I See The Light Company has a related company that produces 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.

PLEASE HELP! (12.01-12.05 are correct answers)

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 3,500 figurines at a cost of $57,050.00. Of this amount, $56,000.00 was from raw materials added, $700.00 for labor and $350.00 for overhead. These 3,500 figurines were assumed to be 10.00% complete as to labor and overhead. During January, 23,500 units were started, $377,645.00 of materials and $50,500.00 of labor costs were incurred. The 7,000 figurines that were in-process at the end of January were assumed to be 80.00% complete to labor and overhead. All figurines in January passed inspection. 101 Physical Flow of Units 12 Work-in-Process - Beginning 13 Units Started this Period 22 Units to Account for 24 Total transferred out 25 Work-in-Process - Ending Total Accounted for \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & \\ \hline Equivalent Units Conversion (Round to three places, ##.#\#\#.#\#\#) \\ \hline \end{tabular} \begin{tabular}{l} \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} \\ \hline \end{tabular} {12.11} {12.16} You entered 510445 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 3,500 figurines at a cost of $57,050.00. Of this amount, $56,000.00 was from raw materials added, $700.00 for labor and $350.00 for overhead. These 3,500 figurines were assumed to be 10.00% complete as to labor and overhead. During January, 23,500 units were started, $377,645.00 of materials and $50,500.00 of labor costs were incurred. The 7,000 figurines that were in-process at the end of January were assumed to be 80.00% complete to labor and overhead. All figurines in January passed inspection. 101 Physical Flow of Units 12 Work-in-Process - Beginning 13 Units Started this Period 22 Units to Account for 24 Total transferred out 25 Work-in-Process - Ending Total Accounted for \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline & & & & \\ \hline & & & \\ \hline Equivalent Units Conversion (Round to three places, ##.#\#\#.#\#\#) \\ \hline \end{tabular} \begin{tabular}{l} \begin{tabular}{|l|l|l|l|l|} \hline & & & & \\ \hline & & & & \\ \hline \end{tabular} \\ \hline \end{tabular} {12.11} {12.16} You entered 510445