indicates material discussed in the chapter appendix.) WCP 16 Because most of the parts for its irrigation systems are standard, Waterways han- dles 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 depart ments. All items eventually end up in the Package 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 Stage of completion for materials Stage of completion for labor and overhead Costs in work in process inventory: 22,000 80% 30% $168,360 67,564 17,270 $253,194 Materials 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: 60,000 58,000 Materials Labor Overhead $264,940 289,468 60,578 $614,986 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 24,000 50% 10% Instructions (a) Prepare a production cost report for Waterways using the weighted-average method. *(b) Show the equivalent units for materials and conversion costs if Waterways used FIFO instead of weighted-average