January 31 Physical Units Equivalent Units Conversion Costs Materials Quantities Units to be accounted for Work in process, Jan. 1 Started into production 21.200 60.400 Total units 81600 Units accounted for Transferred out Work in process, Jan. 31 58,200 58.200 58.200 23,400 11.700 2.340 Total units 81,600 69,900 60.540 Conversion Costs Materials Total Costs Unit costs Costs in January $ 452 253 $ $ Equivalent units 69,900 60.540 Unit costs $ 6.47 $ $ $ 252,200 Costs to be accounted for Work in process, Jan. 1 Started into production Total costs 623,833 $ 876,033 Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, Jan. 31 Materials $ Conversion costs Total costs $ 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. 21,200 80% Work in process beginning: Units in process Stage of completion for materials Stage of completion for labor and overhead Costs in work in process inventory: Materials 30% Labor $ 166,780 68,150 17,270 $252,200 Overhead Total costs in beginning work in process 60,400 58,200 Units started into production in January Units completed and transferred in January Costs added to production: Materials $285,473 278,100 Labor 60,260 $623,833 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 23,400 50% 10%