I posted this same problem about an hour ago. But is seem part of the answer was

Question

I posted this same problem about an hour ago. But is seem part of the answer was wrong. Please note:
Work in Process ending:
stage of completion for materials 50%
stage of completion for labor & overhead 10%
Hope someone can help.

Waterways Continuing Problem 17 (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 process departments. Three of these departments are the Molding, Cutting, and Welding departments. 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 lanuary. 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% Materials Labor Overhead $168,360 67,564 17,270 $253,194 60,000 58,000 Total costs in beginning work in process Units started into preduction in January Units completed and transferred in January Costs added to production: Materials Labor Overhead 5264,940 289,469 60,578 5614.986 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% Prepare s product on cost report for Waterways using the weighted-e.erage method. (Round unit costs to 2 decimal places, e.g. 2.25.)

Explanation / Answer

Weighted Average Method WATERWAYS CORPORATION MOLDING DEPARTMENT PRODUCTION REPORT For the Month ended Jan 31, 2017 Particulars Equivalent Units Physical Units Materials Conversion Costs Units to be accounted for Work in process - Beginning            22,000 Started into production            60,000 Total units            82,000 Units accounted for Transferred out              58,000            58,000          58,000 Work in process, Ending (82,000 - 58,000)            24,000            12,000            2,400 (50% materials, 10% conversion costs) Equivalent units accounted for            82,000            70,000          60,400 Costs Unit costs Materials Conversion Total WIP, Beginning          168,360            84,834        253,194 Costs incurred in November          264,940          350,046        614,986 Total Costs          433,300          434,880        868,180 Equivalent units            70,000            60,400 Costs per Equivalent Units                6.19                7.20            13.39 Cost Assignment Materials Conversion Total Good Units completed & Transferred out (58,000 Units) Cost of goods completed & Transferred out          359,020          417,600        776,620 Work in Process - ending Inventory - 24,000 Units            74,280            17,280          91,560 Total Cost accounted for          433,300          434,880        868,180 Cost Reconciliation Schedule Cost Accounted For: Transferred Out        776,620 WIP - Jan 31 Materials            74,280 Conversion Costs            17,280          91,560 Total Costs        868,180

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