Because most of the parts for its irrigation systems are standard, Northern Illinois Manufacturing 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 the 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 January:Work in process beginning:Units in process 22,500Stage of completion for materials 80%Stage of completion for labor and overhead 30%Costs in work in process inventory:Materials $174,100Labor 70,500Overhead 104,650Total costs in beginning work in process $349,250Units started into production in January 74,000Units completed and transferred in January 71,000Costs added to production:Materials $926,225Labor 609,476Overhead 914,214Total cots added into production in January $2,449,915Work in process endingUnits in process 25,500Stage of completion for materials 60%Stage of completion for labor and overhead 30%Instructions:Prepare a production cost report for Northern Illinois Manufacturing using the weighted-average method and then show the journal entry for transferring the units from Molding to the Welding Department.