CALCULATOR CES PRINTER VERSION BACK NEXT Waterways Problem 03 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. dy Work in process beginning: Units in process Stage of completion for materials Stage of completion for labor and overhead Costs in work in process inventory: Materials 21,200 80% 30% Labor $166,780 68,150 17,270 $252,200 Overhead Total costs in beginning work in process 60,400 58,200 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 $285,473 278,100 60,260 $623,833 23,400 50% 10% Weygandt, Managerial Accounting, 8e Help System Announcements CES Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs to 2 3 4 WATERWAYS CORPORATION Molding Department Production Report Equivalent Units Conversion Materials Costs Physical Units dy Quantities Units to be accounted for Work in process, Jan. 1 Started into production Total units Units accounted for Transferred out Work in process, Jan. 31 Total units Costs Unit costs Materials Conversion Costs Total Costs in January $ $ $ Equivalent units Unit costs $ RCES Costs to be accounted for 03 Work in process, Jan. 1 $ Started into production Eudy Total costs $ Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, Jan. 31 Materials Conversion costs Total costs LINK TO TEXT LINK TO TEXT Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted average. Equivalent Units Materials Conversion Physical Units Units accounted for Completed and transferred out Work in process, Jan. 1 Started and completed in Jan. Work in process, Jan. 31 Total units