work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicat completion. Return to question Problem 4-16 Comprehensive Problem-Weighted-Average Method (L04-2, LO4-3, LO4-4, LO4-5) 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: 88,000 530,000 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 608 complete; conversion 404 complete Cost data: Work in process inventory, May 11 Materials cost Conversion cost Cost added during May: Materials cost Conversion cost 65,000 $ 106,000 $ 59,700 $551, 120 $328,230 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 5. Prepare a cost reconciliation report for May.