Hello, I am an accounting and finance student at my first year, I need help in overcoming this question please:

Question 2 Balkan Bad, manufatures a caulking compound that goes through three processing stage prior below for May: lo completion. Information on work in the first department. Cooking Department, is given Production data: Pounds in process, May 1: 10.000 (materials 1002% complete, conversion 80% complete) Pounds started into production during May 100,000 Pounds in process, May 31; 15,000 (materials 60%% complete; conversion 20% complete) Cost data: Work in process inventory, May 1: Materials cost RMI,500 Conversion cost RM7,200 Cost added during May: Materials cost RMIS4500 Conversion cost RM90,800 You need to prepare the cost reconciliation report for this process costing, but you are not sure which method is the most suitable method to be implemented in the company. You need to analyse which of these methods, either weighted average costing method or first in first out costing method give higher cost of the finished goods and explain the differences between the two costing methods, The report must also include a physical flow schedule and an equivalent unit schedule