May 88,000 530,000 2 Production data: Pounds in process, May 1; materials 1001 complete; conversion 90% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 604 complete; conversion 408 complete Cost data: Work in process inventory, May 11 Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 65,000 $106,000 $ 59, 700 $551, 120 $328,230 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 5 Compute the equivalent units of production for materials and conversion for May Materials Conversion Equivalent units of production