Builder Products, Inc., uses the weighted 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 80,000 450,000 2 Production data: Pounds in process, May 1; materials 10ex complete conversion 90% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 6ex complete: conversion 40% complete Cost data: Work in process Inventory, May 1: Materials cast Conversion cost Cost added during May: Materials cost Conversion cost 40,000 5 116,900 $ 35,800 5-607,840 $ 196,960 Required: 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 40,000 Pounds in process, May 31; materials 60% complete; conversion 40% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost $ 116,900 $ 35,800 $ 607,840 $ 196,960 Required: 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. Comppte the cost of ending work in process inventory for materials, conversion, and in total for M 4. Compute the cost of units transferred out to the next department for materials, conversion, and in 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 450,000 40,000 during May Pounds completed and transferred out Pounds in process, May 31; materials 60% complete; conversion 40% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost $116,990 $ 35,800 $ 607,840 $ 196,960 Required: 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 M 4. Compute the cost of units transferred out to the next department for materials, conversion and in 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 s Compute the cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decin Materials Conversion Cos! per equivalent unit 40,000 +0% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost $ 116,909 $ 35,800 $ 607,840 $ 196,960 Required: 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 tota 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 cost of ending work in process inventory for materials, conversion, and in total for May. (Round yo intermediate calculations to 2 decimal places Materials Conversion Total Cost of ending work in process inventory 5 Required 2 Required 4 > 80,000 450,000 1 materials 100% complete conversion 90% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 60% complete conversion 40% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 40,000 $ 116,909 $ 35,888 $ 607,840 $ 196,96 Required: 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 cost of units transferred out to the next department for materials, conversion, and in total for May. (Round y intermediate calculations to 2 decimal places.) Materials Conversion Total Cost of units completed and transferred but Materials cost Conversion cost $607, 840 $ 196,960 Required: 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 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 Prepare a cost reconciliation report for May. (Round your intermediate calculations to 2 decimal places.) Cost Reconciliation Costs to be accounted for $ 0 Total cost to be accounted for Costs accounted for as follows Total cost accounted for