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 64,000 100% complete; conversion 90% complete 290,000 Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31 24,000 materials 60% complete; conversion 40% complete Cost data: Work in process inventory, May 1: 69,500 Materials cost 23,500 Conversion cost Cost added during May Materials cost 361,000 129,320 Conversion cost 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