What happens to wasted production?

I have googled all day for this. No luck.

Posted on Monday, February 5, 2018

Before someone accuses me of not looking or RTFMing, I have.  All I find are links to outdated versions of the software and even then no answer.

So, I have 4 colonies.  Each one produces 10 raw production.  I'm set to spend all of that production on ships/social projects.  Then I set the ship/social meter to 50/50.  I've noticed each planet then gets 5 production for social projects even if there is no ship building going on. What happens to the other 5 units?  It *seems* like they are wasted.  Is that true?