10 Check my work 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: Production datat Pounds in process, May 1: materials 1008 complete; conversion 908 complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 75% complete; 83,000 480,000 conversion 25t complete 43,000 Cost data: Work in process inventory, May 1 Materials cost Conversion cost Cost added during Hay Materiala cost Conversion cont $128,300 53,900 5666,940 296,395 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