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 conversion cost Costs in work in process inventory: 20,100 80% 30% Materials $169,960 Labor 67,620 Overhead 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 Total costs added into production in January $609.077 Work in process ending Units in process (a) 22,900 Stage of completion for materials 50% Stage of completion for conversion cost 10% Your answer is partially correct. Prepare a production cost report for Waterways using the weighted average method. (Round unit costs to 2 decimal places, eg 2.25) Quantities Units to be accounted for WATERWAYS CORPORATION Molding Department Production Report For the Month of January Equivalent Units Conversion Physical Units Materials Work in process, Jan. 1 20100 Costs Activa Go to Se Work in 20100 process, Jan, 1 Started into production Total units Units accounted for Completed and transferred out 60300 80400 57500 57500 57500 Work in process, Jan. 22900 11450 2290 31 Total units 80400 68950 Costs Unit costs Costs in January Equivalent units Materials 427490 $ Conversion Costs 59790 Activate W Go to Setting Unit costs Costs to be accounted for Workin process, Jan. 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Completed and transferred out Workin process, Jan 31 Materials Conversion Activate Win Go to Settings M