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 23.200 Stage of completion for materials 80% Stage of completion for labor and overhead Costs in work in process inventory: Materials $169,950 Labor 67,000 Overhead 17,190 Total costs in beginning work in process $254.140 309 60.300 57,700 Units started into production in January Units completed and transferred in January Costs added to production Materials Labor Overhead Total costs added into production in January Work in process ending $288.244 282.658 61.140 5632,042 Work in process ending Units in process Stage of completion for materials Stage of completion for labor and overhead 25,800 50% 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 Equivalent Units Physical Units Materials Conversion Costs Quantities Units to be accounted for Work in process, Jan. 1 Started into production Total units Units accounted for Transferred US BLOT LU QUOTES 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 Conversion Costs Costs Materials $ $ $ 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 e Textbook and Media Conversion Costs Materials Total $ $ Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average. Physical Units Equivalent Units Conversion Materials Units accounted for Completed and transferred out Work in process, Jan. 1 Started and completed in Jan. Work in process, Jan. 31 Total units