Problem $5-16($Algo$)$ Comprehensive Problem$-$Weighted$-$Average Method $[$LO$5-2,$ LO$5-3,$ LO$5-4,$ LO$5-5]$

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:

$\backslash$table$[[$Production data:,$],[$Pounds in process, May $1$; materials $100\%$ complete;,$],[,$ conversion $90\%$ complete,$85,000],[$Pounds started into production during May,$500,000],[$Pounds completed and transferred out,$],[$Pounds in process, May $31$; materials $80\%$ complete;,$],[,$ conversion $20\%$ complete,$45,000],[$Cost data:,$],[$Work in process inventory, May $1$:$,135,700],[$Materials cost$,$$$22,000$