Prepare a production cost report for Waterways using the weighted average method. Show gbe equivalent units and materials and conversion costs if water ways used FIFO instead of weighted average.

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. Total costs added into producuon in yanuary Work in process ending: Units in process 23,800 Stage of completion for materials 50% Stage of completion for labor and overhead 10% Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs to 2 decimal places, eg. 2.25.) Conversion Costs Materials Costs 1 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 Cost Reconciliation Schedule Costs accounted for Transferred out Workin process, Jan. 31 Materials Comversion costs Total costs eTextbook and Media Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average