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.

Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs to 2 decimal places, e.g. 2.25.)

Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average.

Show all calculations and how you found your answer, please!

Work in process beginning:
Units in process		22,000
Stage of completion for materials		80%
Stage of completion for labor and overhead		30%
Costs in work in process inventory:
Materials		$167,050
Labor		67,710
Overhead		17,130
Total costs in beginning work in process		$251,890
Units started into production in January		59,700
Units completed and transferred in January		57,500
Costs added to production:
Materials		$281,174
Labor		297,988
Overhead		60,580
Total costs added into production in January		$639,742
Work in process ending:
Units in process		24,200
Stage of completion for materials		50%
Stage of completion for labor and overhead		10%