Question 1 (50 Points) Weston Products manufactures an industrial cleaning compound that goes through three processing departments Grinding. Mixing and Cooking. All raw materials are introduced at the start of work in the Grinding Department. The Work in Process T-account for the Grinding Department for May is given below: Inventory, May 1 Work in Process Grinding Department 174,240 Completed and transferred to the Mixing Department 407.520 124.160 Materials Conversion Inventory, May 31 The May I work in process inventory consisted of 32,000 pounds with S137.280 in materials cost and $36.960 in conversion cost. The May I work in process inventory was 100% complete with respect to materials and 30% complete with respect to conversion. During May, 322.000 pounds were started into production. The May 31 inventory consisted of 128.000 pounds that were 100% complete with respect to materials and 60%.complete with respect to conversion. The company uses the weighted average method in its process costing system Required: 1. Compute the Grinding Department's equivalent units of production for materials and conversion in May 2. Compute the Grinding Department's costs per equivalent unit for materials and conversion for May. 3. Compute the Grinding Department's cost of ending work in process inventory for materials conversion, and in total for May 4. Compute the Grinding Department's cost of units transferred out to the Mixing Department for materials, conversion, and in total for May. Question. IA 150 Points) Builder Products, Inc., uses the weighted average method in its process costing system. It 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 100% complete conversion 90% complete 90,000 Pounds started into production during May 550,000 Pounds completed and transferred out Pounds in process, May 31, materials 70% complete conversion 30% complete 50,000 Costdata Work in process inventory, May 1: Materials cost S152,300 S 63,300 Conversion cost Cost added during May: Materials cost Conversion cost $791.450 S348, 100 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 S. Prepare a cost reconciliation report for May