Production data: Pounds in process, May 1: materials 100% complete; conversion 90% complete 70,000 Pounds started into production during May 350,000 Pounds completed and transferred to the next department ? Pounds in process, May 31: materials 75% complete; conversion 25% complete 40,000 Cost data: Work in process inventory, May 1: Materials cost $ 86,000 Conversion cost $ 36,000 Cost added during May: Materials cost $ 447,000 Conversion cost $ 198,000 1.) Compute the equivalent units of production. 2.) Compute the costs per equivalent unit for the month. (Round your answers to 2 decimal places.) 3.)Determine the cost of ending work in process inventory and of the units transferred out to the next department. (Round your intermediate calculation to 2 decimal places and final answers to the nearest whole dollar amount.) 4.) Prepare a cost reconciliation report for the month. (Round your intermediate calculation to 2 decimal places and final answers to the nearest whole dollar amount.)