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In: AccountingBuilder Products, Inc., uses the weighted-average method in itsprocess costing system. It manufactures a caulking...Builder Products, Inc., uses the weighted-average method in itsprocess costing system. It manufactures a caulking compound thatgoes through three processing stages prior to completion.Information on work in the first department, Cooking, is givenbelow for May:Production data:Pounds in process, May 1;materials 100% complete;conversion 90% complete62,000Pounds started into productionduring May270,000Pounds completed and transferredout?Pounds in process, May 31;materials 70% complete;conversion 30% complete22,000Cost data:Work in process inventory, May1:Materials cost$55,100Conversion cost$26,800Cost added during May:Materials cost$286,570Conversion cost$147,330Required:1. Compute the equivalent units of production for materials andconversion for May.2. Compute the cost per equivalent unit for materials andconversion for May.3. Compute the cost of ending work in process inventory formaterials, conversion, and in total for May.4. Compute the cost of units transferred out to the nextdepartment for materials, conversion, and in total for May.5. Prepare a cost reconciliation report for May.