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Builder Products, Incorporated, uses the weighted-average method of process costing. It manufactures a caulking compound...

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Accounting

Builder Products, Incorporated, uses the weighted-average method of process costing. 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:Pounds in process, May 1; materials 100% complete;Pounds started into production during May 390,000Pounds in process, May 31; materials 70% complete;Cost data: Materials cost $ 98,800Cost added during May: Conversion cost $ $ 242,130Required:
For May:
Compute the equivalent units of production for materials and conversion.
Compute the cost per equivalent unit for materials and conversion.
Compute the cost of ending work in process inventory for materials, conversion, and in total.
Compute the cost of units transferred out to the next department for materials, conversion, and in total.
Prepare a cost reconciliation report.
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