Builder Products, Incorporated, uses the weighted-average method of process costing. 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 Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 70% complete; conversion 30% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost Required: For May: 90,000 550,000 ? 50,000 $ 152,300 $ 63,300 $ 791,450 $ 348,100 1. Compute the equivalent units of production for materials and conversion. 2. Compute the cost per equivalent unit for materials and conversion. 3. Compute the cost of ending work in process inventory for materials, conversion, and in total. 4. Compute the cost of units transferred out to the next department for materials, conversion, and in total. 5. Prepare a cost reconciliation report. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Prepare a cost reconciliation report for May. Note: Round your intermediate calculations to 2 decimal places. Costs to be accounted for: Cost Reconciliation Total cost to be accounted for Costs accounted for as follows: $ 0 Total cost accounted for $ 0 < Required 4 Required 5 >