Builder Products, Incorporated, 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: 71,000 360,000 ? 31,000 Production data: Pounds in process, May 1: Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 75% complete; conversion 25% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost $ 90, 100 $ 46,400 $ 468,590 $ 255,335 Required (see below for a few hints, if needed): 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. & Answer is not complete. 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 293,250 X Conversion 301,735 X Equivalent units of production