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:

Production data:
Pounds in process, May 1; materials 100% complete; conversion 90% complete		88,000
Pounds started into production during May		530,000
Pounds completed and transferred out		?
Pounds in process, May 31; materials 60% complete; conversion 40% complete		65,000
Cost data:
Work in process inventory, May 1:
Materials cost	$	106,000
Conversion cost	$	59,700
Cost added during May:
Materials cost	$	551,120
Conversion cost	$	328,230

Required:

1. Compute the equivalent units of production for materials and conversion for May.

	Materials	Conversion
Equivalent units of production

2. Compute the cost per equivalent unit for materials and conversion for May.

	Materials	Conversion
Cost per equivalent unit

3. Compute the cost of ending work in process inventory for materials, conversion, and in total for May.

	Materials	Conversion	Total
Cost of ending work in process inventory

4. Compute the cost of units transferred out to the next department for materials, conversion, and in total for May.

	Materials	Conversion	Total
Cost of units completed and transferred out

5. Prepare a cost reconciliation report for May.

Blending Department
Cost Reconciliation
Costs to be accounted for:
Total cost to be accounted for
Costs accounted for as follows:
Total cost accounted for