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		23,600
Stage of completion for materials		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%

(a)

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 choose the accounting period January 31For the Month of JanuaryFor the Quarter Ended January 31
				Equivalent Units
Quantities		Physical Units		Materials		Conversion Costs
Units to be accounted for
Work in process, Jan. 1		enter a number of units
Started into production		enter a number of units
Total units		enter a total number of units
Units accounted for
Completed and transferred out		enter a number of units		enter a number of units		enter a number of units
Work in process, Jan. 31		enter a number of units		enter a number of units		enter a number of units
Total units		enter a total number of units		enter a total number of units		enter a total number of units
Costs				Materials		Conversion Costs		Total
Unit costs
Total costs				$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Equivalent units				enter a number of units		enter a number of units
Unit costs				$enter a dollar amount rounded to 2 decimal places		$enter a dollar amount rounded to 2 decimal places		$enter a dollar amount rounded to 2 decimal places
Costs to be accounted for
Work in process, Jan. 1								$enter a dollar amount
Started into production								enter a dollar amount
Total costs								$enter a total amount
Cost Reconciliation Schedule
Costs accounted for
Completed and transferred out								$enter a dollar amount
Work in process, Jan. 31
Materials						enter a dollar amount
Conversion costs						enter a dollar amount		enter a subtotal of the two previous amounts
Total costs								$enter a total amount for this statement