Builder Products, Incorporated, 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 data: Pounds in process, May 1; materials 100% complete; conversion 80% complete Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31; materials 60% complete; conversion 20% complete Cost data: Work in process inventory, May 1: Materials cost Conversion cost Cost added during May: Materials cost Conversion cost Required 10,000 100,000 ? 15,000 $ 1,500 $ 7,200 $ 154,500 $ 90,800 Prepare a cost reconciliation report for May. (Round your intermediate calculations to 2 decimal places.) Cost Reconciliation Costs to be accounted for: Cost of beginning work in process inventory Costs added to production during the period. Total cost to be accounted for Costs accounted for as follows: Cost of ending work in process inventory Cost of units completed and transferred out Total cost accounted for $ 8,700 245,300 $ 254,000 $ 237,500 16,500 x $ 254,000