Problem 4-16 Comprehensive Problem-Weighted-Average Method LO4-2, LO4-3, LO4-4, LO4-5] 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 Production data Pounds in process, May 1; materials 64,000 100% complete; conversion 90% complete 290,000 Pounds started into production during May Pounds completed and transferred out Pounds in process, May 31 24,000 materials 60% complete; conversion 40% complete Cost data Work in process inventory, May 1 69,500 Materials cost 23,500 Conversion cost Cost added during May 361,000 Materials cost 129,320 Conversion cost The company uses the weighted-average method