Builder Products, Incorporated. uses the weightedaverage 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 rst department, Cooking, is given below for May: Production data: Pounds in process, May 1; materials 166% complete; conversion 96% complete 65,666 Pounds started into production during Hay 366,666 Pounds completed and transferred out ? Pounds in process, May 31; materials 86% complete; conversion 26% complete 25,666 Cost data: Nork in process inventoryJ May 1: Materials cost $ ?3,266 Conversion cost $ 24,466 Cost added during May: Materials cost $ 386,466 Conversion cost $ 134,366 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. \fMaterials Conversion Cost per equivalent unitMaterials Conversion Total Cost of ending work in process inventoryMaterials Conversion Total Cost of units completed and transferred outCost Reconciliation Costs to be accounted for: Total cost to be accounted for Costs accounted for as follows: Total cost accounted for