Arrange the following steps in the correct chronological order to achieve consumer equilibrium under the utility maximization approach:

1. Marginal Utility per Rupee (MU/P) is calculated for each good.
2. The consumer allocates income across goods to equate MU/P for all goods.
3. The consumer compares total utility across different bundles of goods.
4. The consumer chooses the bundle of goods that maximizes total utility.
5. The consumer sets their budget constraint and prices of goods.