A reverse molded fiberboard panel (12); a wainscot kit comprising a plurality of differently sized reverse molded panels (12), and a planar finishing or spacer panel, adapted to completely cover any size wall between a wall base board and a wall chair rail; and a method of reverse molding a loose cellulosic mat, in a single pressing step, to provide one or more relatively high density, raised panels (12) without requiring preliminary pressing, or other pre-shaping step, such as scalping. The reverse-molded panels (12) are molded in a conventional, multi-opening fiberboard press, in a single pressing step process, while achieving excellent transfer of mold detail (embossing fidelity) without visually noticeable fiber fracture.