3 of 4 View Policies < Current Attempt in Progress -/25 Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January. Work in process beginning: Units in process A 21,400 Stage of completion for materials 80% Stage of completion for labor and overhead 30% Costs in work in process inventory: Materials $166,710 Labor 66,960 Overhead 17,210 Total costs in beginning work in process $250,880 Units started into production in January 59,600 Units completed and transferred in January 57,700 Costs added to production: Materials $253,551 Labor 268,927 Overhead 61,110 Total costs added into production in January $583,588 Work in process ending: Units in process 23,300 Stage of completion for materials 50% Stage of completion for labor and overhead 10% Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs to 2 decimal places, e.g. 2.25.) Quantities Units to be accounted for Work in process, Jan. 1 Started into production Total units Units accounted for Transferred out Work in process, Jan. 31 Total units Costs WATERWAYS CORPORATION Molding Department Production Report For the Month of January Physical Units Materials Equivalent Units Conversion Costs Materials Conversion Costs Costs Unit costs Costs in January Equivalent units Materials Unit costs Costs to be accounted for Work in process, Jan. 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, Jan. 31 Materials Conversion costs Total costs $ Conversion Costs $ $ $ Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average. Units accounted for Completed and transferred out Work in process, Jan. 1 Started and completed in Jan. Work in process, Jan. 31 Total units eTextbook and Media Physical Units Equivalent Units Materials Conversion