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 Stage of completion for materials Stage of completion for labor and overhead Costs in work in process inventory: 20,100 80% 30% Materials $169,960 Labor Overhead 67.620 17,300 Total costs in beginning work in process $254,880 Units started into production in January 60,300 Units completed and transferred in January 57,500 Costs added to production: Materials Labor Overhead Total costs added into production in January $257,530 290,427 61,120 $609.077 Work in process ending: Units in process 22,900 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 Workin process, Jan. 1 Started into production Total units WATERWAYS CORPORATION Molding Department Production Report Physical Units Materials Equivalent Units Conversion Costs Total units Units accounted for Transferred out Work in process, Jan. 31 Total units Costs Unit costs Costs in January Materials Conversion Costs Unit costs Costs in January Equivalent units 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