Weygandt, Financial and Managerial, 3e Financial and Managerial CALCULATOR MESSAGE MY INSTRUCTOR STANDARD VIEW PKS Weygandt, Financial and Managerial, Je (1) Naterways Problem 16 (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 proces 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 individu The following information is available for the Molding department for January. Work in process beginning: Units in process Stage of completion for materials 22,100 80% Stage of completion for labor and overhead 30% Costs in work in process inventory: Materials $169,750 67,870 17,290 $254,910 Labor Overhead Total costs in beginning work in process 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 59,800 58,100 $277,550 302,412 50,080 $639,942 %605 10% (a) Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs to 2 decimal places, e.g. 2.25.) S Weygandt, Financial and Managerial, Je SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT Valey Mus Financial and Managerial Accou MESSAGE MY INSTRUCTOR Prepare a production cost report for Waterways using the weighted average method. (Round unit costs to 2 decimal places, c.g. 2.25.) WATERWAYS CORPORATION Holding Department Production Report Equivalent Units Quantities Physical Units Materials Conversion Costs Units to be accounted for Work In process, Jan. 1 Started into production Total units Units accounted for Transferred out Work in process, lan. 31 Total units Custs Costs in January $ Equivalent units Unit costs Materials Conversion Costs Total STANDARD VIEW Mexus | H 5 Weygandt, Financial and Managerial, 3e Financ Financial and Managerial Accour CALCULATOR MESSAGE MY INSTRUCTOR STANDARD VIEW PRINTER VERSI CALCULATOR MESSAGE MY INSTRUCTOR (b) Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-everage. 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, lan. 31 Total units Click if you would like to Show Work for this question: Open Show Work SHOW ANSWER LINK TO TEXT LINK TO TEXT Costs to be accounted for Work in process, Jan. 1 Attempts: 0 of 15 used Attempts: 0 of 15 used Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, Jan. 31 Materials Conversion costs Total costs Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT (b) Atter