Because most of the parts for its irrigation systems are standard, Waterways handles the majority of...

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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 21,600 Stage of completion for materials 80% Stage of completion for conversion cost 30% Costs in work in process inventory Materials $167,780 Labor 67,630 Overhead 17,310 Total costs in beginning work in process $252,720 Units started into production in January 59,900 Units completed and transferred in January 58.400 Costs added to production: Materials Labor Overhead Total costs added into production in January $278,501 279,060 60,970 $618,531 Work in process ending 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 conversion cost $278,501 279,060 60,970 $618,531 23,100 50% 10% Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs to 2 decimal places, eg 2.25) WATERWAYS CORPORATION Molding Department Production Report Physical Units Materials Quantities Units to be accounted for Workin 21600 process, Jan. 1 Started into 59900 production Total units 81500 Units accounted for Completed and transferred out Workin process, Jan 31 Total units Equivalent Units: Conversion Costs Total units Costs Unit costs Total costs Equivalent units Unit costs Costs to be accounted for Workin process, Jan. 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Questic Accouming Conversion Materials Costs Viewing Accountin Questic Accounting Question Accounere Question Acounting Questio Accourers Questio Accouning Materials Conversion Costs Total Que Acco Vier A Que Accou Ques Accue Ques Accou Ques Ace Ques Accour Started into production Total costs Cost Reconciliation Schedule Costs accounted for Completed and transferred out Workin process, Jan. 31 Materials Conversion costs Total costs 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 21,600 Stage of completion for materials 80% Stage of completion for conversion cost 30% Costs in work in process inventory Materials $167,780 Labor 67,630 Overhead 17,310 Total costs in beginning work in process $252,720 Units started into production in January 59,900 Units completed and transferred in January 58.400 Costs added to production: Materials Labor Overhead Total costs added into production in January $278,501 279,060 60,970 $618,531 Work in process ending 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 conversion cost $278,501 279,060 60,970 $618,531 23,100 50% 10% Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs to 2 decimal places, eg 2.25) WATERWAYS CORPORATION Molding Department Production Report Physical Units Materials Quantities Units to be accounted for Workin 21600 process, Jan. 1 Started into 59900 production Total units 81500 Units accounted for Completed and transferred out Workin process, Jan 31 Total units Equivalent Units: Conversion Costs Total units Costs Unit costs Total costs Equivalent units Unit costs Costs to be accounted for Workin process, Jan. 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Questic Accouming Conversion Materials Costs Viewing Accountin Questic Accounting Question Accounere Question Acounting Questio Accourers Questio Accouning Materials Conversion Costs Total Que Acco Vier A Que Accou Ques Accue Ques Accou Ques Ace Ques Accour Started into production Total costs Cost Reconciliation Schedule Costs accounted for Completed and transferred out Workin process, Jan. 31 Materials Conversion costs Total costs