2 Builder Products, incorporated, uses the welghted average method in its process costing system. It manufactures a caulking compound that goes through three processing stages prior to completion Information on work in the first department, Cooking, is given below for May Production data: Pounds in process, May 1: 73,000 Pounds started into production during May 380,000 Pounds completed and transferred out Pounds in process, May 31: materials 80% complete; conversion 208 complete 33,000 cost data Work in process inventory, May 11 Materials cost $ 111,600 Conversion cost $ 55,800 Cost added during May Materials cost $ 580,320 Conversion cost $ 306,810 Required (see below for a few hints, if needed): 1. Compute the equivalent units of production for materials and conversion for May 2. Compute the cost per equivalent unit for materials and conversion for May. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May, 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total for May 5. Prepare a cost reconciliation report for May Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the equivalent units of production for materials and conversion for May. Materials Conversion Equivalent units of production Complete this question by entering your answers in the tabs below. Required 1 Rquired 2 Required 3 Required 4 Required 5 Compute the cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the cost of units transferred out to the next department for materials, conversion, and in total for May. (Round your Intermediate calculations to 2 decimal places.) Materials Conversion Total Cost of units completed and transferred out