Problem 4-16 Comprehensive Problem-Weighted-Average Method [LO4-2, LO4-3, LO4-4, LO4-5] Builder Products, Inc., 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 72,000 100% complete, conversion 90% complete Pounds started into production during May 370,000 Pounds completed and transferred out Pounds in process, May 31: 32,000 materials 60% complete, conversion 40% complete Cost data Work in process inventory, May 1: 72,700 Materials cost 48,800 Conversion cost Cost added during May: 377,960 Materials cost 268,300 Conversion cost The company uses the weighted-average method Required: 1. Compute the equivalent units of production. Materials Conversion Equivalent units of production 2. Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places.) Materials Conversion Cost per equivalent unit