Builder Products, Inc., 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; materials 100% complete; conversion 90% complete		74,000
Pounds started into production during May		390,000
Pounds completed and transferred out		?
Pounds in process, May 31: materials 70% complete; conversion 30% complete		34,000
Cost data:
Work in process inventory, May 1:
Materials cost	$	98,800
Conversion cost	$	44,000
Cost added during May:
Materials cost	$	513,830
Conversion cost	$	242,130

The company uses the weighted-average method.

Required:

1.	Compute the equivalent units of production.

2.	Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places.)

3.	Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Round your intermediate calculation to 2 decimal places.)

4.	Prepare a cost reconciliation report for the month. (Do not round your intermediate calculations.)

Builder Products, Inc. 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: materials 74.000 100% complete conversion 90% complete 300,000 Pounds started into production during May Pounds completed and transferred out Pounds in process May 31 34,000 materials 70% complete: conversion 30% complete Cost data: Work in process inventory, May 1 98,800 Materials cost Conversion cost 44,000 Cost added during May: 513,830 Materials cost Conversion cost $242,130 The company uses the weighted-average method. Required 1. Compute the equivalent units of production. Materials Conversion Equivalent units of production 2. Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit 3. Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Round your intermediate calculation to 2 decimal places.) Total Cost of ending work in process inventory Cost of units completed and transferred out 4. Prepare a cost reconciliation report for the month. (Do not round your intermediate calculations.) Cost Reconci ation Costs to be accounted for: Total cost to be accounted for Costs accounted for as follows: Total cost accounted for