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 24,100 Stage of completion for materials 80% Stage of completion for labor and overhead 30% Costs in work in process inventory: Materials $168,470 Labor 68,020 Overhead 17,160 Total costs in beginning work in process $253,650 Units started into production in January 59,800 Units completed and transferred in January 58,300 Costs added to production: Materials $281,593 Labor 311,150 Overhead 60,120 Total costs added into production in January $652,863 Work in process ending: Units in process 25,600 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 WATERWAYS CORPORATION Molding Department Production Report Physical Units Materials Equivalent Units Conversion Costs 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 +A $ +A $ Materials $ CA +A Conversion Costs $ LA $ 1 LA $ Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, Jan. 31 Materials Conversion costs Total costs LA $ +A +A $ Materials +A $ Conversion Costs $ LA $ +A Total $ LA $ LA $ LA 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 Physical Units Equivalent Units Materials Conversion