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 23,600 80% Stage of completion for conversion cost 30% Costs in work in process inventory: Materials $168,260 Labor 67,760 Overhead 17,320 Total costs in beginning work in process $253,340 Units started into production in January 59,500 Units completed and transferred in January 57,700 Costs added to production: Materials $267,516 Labor 293,942 Overhead 60,730 Total costs added into production in January $622,188 Work in process ending: Units in process 25,400 Stage of completion for materials 50% Stage of completion for conversion cost 10% Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs to 2 decimal places, e.g. 2.25.) WATERWAYS CORPORATION Molding Department Production Report 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 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 Physical Units Equivalent Units Conversion Materials Costs Conversion Materials Costs Total Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average. Physical Units Units accounted for Completed and transferred out Work in process, Jan. 1 Started and completed in Jan. Work in process, Jan. 31 Total units Equivalent Units Materials Conversion