This is management accounting question , thank you !!! please attach with your work processes!

?

Question 2 Balkan Bhd, manufatures a caulking compound that goes through three processing stage prior to completion. Information on work in the rst department, Cooking Department, is given below for May: Production data: Pounds in process, May 1; 10,000 (materials 100% complete; conversion 80% complete) Pounds started into production during May 100,000 Pounds in process, May 31; 15,000 (materials 60% complete; conversion 20% complete) Cost data: Work in process inventory, May 1: Materials cost RM1,500 Conversion cost RM7,200 Cost added during May: Materials cost RM154,500 Conversion cost RM90, 800 You need to prepare the cost reconciliation report for this process costing, but you are not sure which method is the most suitable method to be implemented in the company. You need to analyse which of these methods, either weighted average costing method or rst in rst out costing method give higher cost of the nished goods and explain the differences between the two costing methods. The report must also include a physical ow schedule and an equivalent unit schedule. (40 marks)