Waterways Problem 03 (Part Level Submission)

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		22,900
Stage of completion for materials		80%
Stage of completion for labor and overhead		30%
Costs in work in process inventory:
Materials		$167,320
Labor		67,830
Overhead		17,420
Total costs in beginning work in process		$252,570
Units started into production in January		60,100
Units completed and transferred in January		58,100
Costs added to production:
Materials		$268,679
Labor		278,060
Overhead		60,820
Total costs added into production in January		$607,559
Work in process ending:
Units in process		24,900
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