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% complete71,000Pounds started into production during May360,000Pounds completed and transferred out?question markPounds in process, May 31; materials 75% complete; conversion 25% complete31,000Cost data:Work in process inventory, May 1:Materials cost$ 90,100Conversion cost$ 46,400Cost added during May:Materials cost$ 468,590Conversion cost$ 255,335

Required:

For May:

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.