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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

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:

Production data:
Pounds in process, May 1; materials 100% complete; conversion 80% complete 10,000
Pounds started into production during May 100,000
Pounds completed and transferred out ?
Pounds in process, May 31; materials 60% complete; conversion 20% complete 15,000
Cost data:
Work in process inventory, May 1:
Materials cost $ 1,500
Conversion cost $ 7,200
Cost added during May:
Materials cost $ 154,500
Conversion cost $ 90,800

Required:

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

(Please explain how you got the numbers thanks!)

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