Current Attempt in Progress 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. Allitems eventually end up in the Packaying Departmem, which prepares items for sale in kits or individually. The following information is avalable for the Molding department for January. 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: Units in process Stage of completion for materials Stage of completion for labor and overhead 60,000 58,000 $264,940 289,468 60,578 $614,986 24,000 50% 10% WATERWAYS CORPORATION Molding Department Production Report Quantities Physical Equivalent Units Units Conversion Units to be accounted for Work in process, Jan, 1 Started into production Total units Units accounted for Transferred out Units accounted for Transferred out Work in process, Jan. 31 Total units Costs to be accounted for Work in process. tan1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in grocess. Jan. 31 Materials Conversion costs Totalcosts Show the equivalent units for materials and comversion costs if Waterways used FIFO instead of weighted-average