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		61,000
Pounds started into production during May		260,000
Pounds completed and transferred out		?
Pounds in process, May 31; materials 80% complete; conversion 20% complete		21,000
Cost data:
Work in process inventory, May 1:
Materials cost	$	58,800
Conversion cost	$	21,100
Cost added during May:
Materials cost	$	305,520
Conversion cost	$	115,790

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.

Cost Reconciliation
Costs to be accounted for:
Total cost to be accounted for	$0
Costs accounted for as follows:
Total cost accounted for	$0

Options for blanks on part 5:

• Cost of beginning work in process inventory
• Cost of ending work in process inventory
• Cost of units completed and transferred out
• Costs added to production during the period