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 23,200 80% Stage of completion for conversion cost 30% Costs in work in process inventory: Materials $169,950 Labor Overhead 67,000 17,190 Total costs in beginning work in process $254,140 Units started into production in January 60,300 Units completed and transferred in January 57,700 Costs added to production: Materials. $288,244 Labor 282,658 Overhead 61,140 Total costs added into production in January $632,042 Work in process ending: Units in process Stage of completion for materials Stage of completion for conversion cost 25,800 50% 10% 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 Cost Reconciliation Schedule Costs accounted for Completed and transferred out Work in process, Jan. 31 $ Materials Conversion Costs Started into production Total costs Cost Reconciliation Schedule Costs accounted for Completed and transferred out Work in process, Jan. 31 Materials Conversion costs Total costs 1A LA Materials Conversion Costs Total 6A 69 69 67