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; materials100% complete; conversion 90% complete 63,000 Pounds started intoproduction during May 280,000 Pounds completed and transferred out? Pounds in process, May 31; materials 75% complete; conversion 25%complete 23,000 Cost data: Work in process inventory, May 1:Materials cost $ 67,500 Conversion cost $ 29,100 Cost added duringMay: Materials cost $ 350,690 Conversion cost $ 159,835 Required:1. Compute the equivalent units of production for materials andconversion for May. 2. Compute the cost per equivalent unit formaterials and conversion for May. 3. Compute the cost of endingwork in process inventory for materials, conversion, and in totalfor 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.
