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 90,000 550,000 2 50,000 Production data: pounds in process, May 1: materials 100 complete conversion 90complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 701 complete conversion 301 complete Cont data: Work in process inventory, May 11 Materiale cost Conversion cost Cost added during May Materials cost Conversion cost $ 152,300 $ 63,300 $ 791,450 $ 348,100 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