no need to answer the last part of question

(To record completion of jobs 357 & K52) e Textbook and Media List of Accounts Assuming that Manufacturing Overhead has a debit balance of $3,600, determine whether overhead has been under/over applied and make the adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit QUESTION 3: 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. 21.400 80% 30% 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 Labor Overhead Total costs in beginning work in process $167.480 67,400 17.260 $252,140 59,600 57.800 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 $276,680 275,910 60.270 $612,860 23,200 50% 10% Prepare a production cost report for Waterways using the weighted average method. (Round unit costs to 2 decimal places, e.g. 2.25.) WATERWAYS CORPORATION Molding Department Production Report Physical Units Equivalent Units Conversion Costs Materials Quantities 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 Materials Total 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 accounted for Transferred out Work in process, Jan. 31 Materials Conversion costs Total costs e Textbook and Media Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted average. Equivalent Units Materials Conversion Physical Units Units accounted for Completed and transferred out Work in process, Jan. 1 Started and completed in Jan. Work in process, Jan. 31 Total units e Textbook and Media