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		62,000
Pounds started into production during May		270,000
Pounds completed and transferred out		?
Pounds in process, May 31: materials 70% complete; conversion 30% complete		22,000
Cost data:
Work in process inventory, May 1:
Materials cost	$	55,100
Conversion cost	$	26,800
Cost added during May:
Materials cost	$	286,570
Conversion cost	$	147,330

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.

Cost ReconciliationCosts to be accounted for:

Cost of beginning work in process inventory

Costs added to production during the period

Total cost to be accounted for$0

Costs accounted for as follows:Cost of ending work in process inventory

Cost of units completed and transferred out

Total cost accounted for$0