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I would really appreciate help with this question Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its
I would really appreciate help with this question
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 Materials $263,640 Labor OverheadTotalcostsaddedintoproductioninJanuary60.300$616,755 Work in process ending: Units in process 25,500 Stage of completion for materials 50% Stage of completion for labor and overhead 10% Prepare a production cost report for Waterways usang the weighted-average methoc. (Kound unit costs to 2 decimal ploces. e.8. 2.25.) Transferred out Work in process, Jan. 31 Total units Costs 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 sccounted for Tramserred out Work in process, Jan 31 Materials Conversion costs Total costs Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average Step by Step Solution
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