men 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 20,400 Stage of completion for materials 80% Stage of completion for labor and overhead 30% Costs in work in process inventory: Materials $168,630 Labor 67,880 Overhead 17,340 Total costs in beginning work in process $253,850 60,100 57,900 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 tabor and overhead $271,482 293,678 60,270 $625,430 22,600 50% 10% Prepare a production cost report for Waterways using the weighted average method. (Round unit costs to 2 decimal places, eg. 2.25.) WATERWAYS CORPORATION Molding Department Production Report . Equivalent Units Physical Conversion Quantities Units Materials Costs Units to be accounted for Work in process, Jan. 1 Started into production Total units Units accounted for Transferred out Work in process, Jan. 31 Total units Conversion Costs Total Materials Costa Unit costs Costs in January Equivalent units unit costs Costs to be accounted for Work in process, Jon 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, Jan. 31 Materials Conversion costs Total costs Show the equivalent units for materials and conversion costs ir Waterways used FIFO instead of weighted average local CSL Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average. Equivalent Units Physical Units Materials Conversion Units accounted for Completed and transferred out Work in process, Jan. 1 Started and completed in Jan. Work in process, Jan. 31 Total units