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 departmentsThree of these departments are the MoldingCutting, 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 20,100

Stage of completion for materials 80%

Stage of completion for conversion cost 30%

Costs in work in process inventory:

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 $257,530

Labor 290,427

Overhead 61,120

Total costs added into production in January $609,077

Work in process ending:

Units in process 22,900

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 example: 2.25)

0.52/15 WATERWAYS CORPORATION Molding Department Production Report For the Month of January Equivalent Units \begin{tabular}{|c|c|c|c|} \hline \multirow[b]{2}{*}{ Quantities } & \multirow[b]{2}{*}{\begin{tabular}{c} Physical \\ Units \end{tabular}} & \multirow{2}{*}{\multicolumn{2}{|c|}{\begin{tabular}{l} Contversion \\ Costs \end{tabular}}} \\ \hline & & & \\ \hline \end{tabular} Work in process, Jan 1 Started into production Total units Units accounted for Completed and transferred out Work in process jan. 31 Total units Costs Materials Comersion Unit conts Corts Costs. Unit conts: Total costs Equinalent units Unitcosts Conts ta be acteurved for Wert in procesis. Jan 1 . startedints production Tocal icnsts 8 Cost Geconcilation Schedule WATERWAYS CORPORATION Molding Department Production Report For the Month of January Equivalent Units Physical Units Materials Conversion WATERWAYS CORPORATION Molding Department Production Report For the Month of January Equivalent Units Physical Units Materials Conversion Costs