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 78,000 430,000 Production data: Pounds in process, May 1; materials 100% coeplete; conversion 9e% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 70% complete; conversion 30% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 38,000 $140,280 $ 70,400 $728,850 $386,930 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. 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 intermediate calculations to 2 decimal places.) Materials Conversion Total Cost of units completed and transferred out Required 3 Required 5 > LLLLLLLLLLLLL Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a cost reconciliation report for May. (Round your intermediate calculati Cost Reconciliation Costs to be accounted for Cost of units completed and transferred out $1,269,000 $1,260,000 Total cost to be accounted for Costs accounted for as follows: Costs added to production during the period Costs added to production during the period Total cost accounted for $ $ 46,5503 10,830 $ 57,380