Process Costing Continuing Case 03 Chap 16 contribution margin ratio-Goe Question 1 of 1 22.41/100 I 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 Stage of completion for materials Stage of completion for conversion cost 23,600 80% 30% Costs in work in process inventory: Materials $168.260 Labor 67.760 Overhead 17,320 Total costs in beginning work in process $253,340 Units started into production in January Units completed and transferred in January Costs added to production: Materials Labor 59.500 57.700 $267,516 293:942 Question 1 of 1 Units completed and transferred in January Costs added to production: Materials Labor Overhead Total costs added into production in January 57,700 $267,516 293,942 60,730 $622,188 Work in process ending: Units in process 25,400 Stage of completion for materials 50% Stage of completion for conversion cost 10% (a) Your answer is partially correct. Prepare a production cost report for Waterways using the weighted-average method. (Round unit costs a e.g. 2.25.) WATERWAYS CORPORATION Molding Desa Question 1 of 1 Quantities Units to be accounted for Physical Units Work in process, Jan. 1 Started into production Total units 23600 59500 83100 Materials: 22.41/100 E Equivalent Units Conversion Costs Units accounted for Completed and transferred out 57700 57700 57700 Work in process, Jan. 31 25400 12700 2540 Total units Costs Unit costs 83100 70400 Materials Conversion Costs 40240 Question 1 of 1 Costs Unit costs Costs in January Equivalent units Unit costs Costs to be accounted for Work in process, Jan. 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Completed and transferred out Materials 622188 22.41/100 E !!! Conversion Costs 2540 Materials 622188 Conversion 22.41/100 E! Costs Total 2540 Continuing Case 03 Chap 16 Question 1 of 1 22.41/100 E MacBook Air 1000 1000