Builder Products, Inc., 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:

The company uses the weighted-average method

Required:

1. Compute the equivalent units of production.

2. Compute the costs per equivalent unit for the month.

3. Determine the cost of ending work in process inventory and of the units transferred out to the next department.

4. Prepare a cost reconciliation report for the month.

Production data: Pounds in process, May 1; materials 100% complete; Conversion 80% complete... 10,000 Pounds started into production during May. 100,000 Pounds completed and transferred out Pounds in process, May 31; materials 60% complete; Conversion 20% complete 15,000 Cost data: Work in process inventory, May 1: Materials cost $1,500 Conversion cost $7,200 Cost added during May: Materials cost. $154,500 Conversion cost $90,800