Question 3 of 9 -75 E View Policies Current Attempt in Progress 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 22,500 Stage of completion for materials BOX Stage of completion for labor and overhead 30% Costs in work in process inventory: Materials $168.920 Labor 66,970 Overhead 17,310 Total costs in beginning work in process $253,200 59.500 58,500 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 $270,845 287.465 60.290 $618.600 23.500 50% 30% ia Prepare a production cost report to Waterways the west average method (Roundunto 2 decimal al Prepare a production cost report for Waterways using the weighted average method. (Roundunit costs to 2 chcimal places, es 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. dan 31 Total units Conversion Costs Tot Materials Costs Unit costs Costs in January Materials Conversion Costs Tot 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 Textbook and Media