Production data: Pounds in process, May 1; materials 100% complete; conversion 90% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 70% complete; conversion 30% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost Required: 82,000 470,000 2 42,000 $ 152,300 $ 52,300 $ 791,650 $ 287,390 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 4. Compute the cost of units transferred out to the next department for materials, conversion, and 5. Prepare a cost reconciliation report for May.