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: 84,000 490,000 2 Production data: Pounds in process, May 1; material: 100% complete; conversion 901 complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 601 complete; conversion 404 complete Cost data: Work in process inventory, May 11 Materials cost Conversion cost cost added during May: Materials cost Conversion cost 44,000 $130,200 $ 21,100 $676,580 $115,800 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