how to resolve memory consumption exceeding limit in asp.net?

[Plonker]

i have created one web application in asp.net[.net 4 framework and visual studio 2010].Now i am running with IIS 5.1 version.When i running my application, i am getting the following error\[code\]Server Application Unavailable The web application you are attempting to access on this web server is currently unavailable. Please hit the "Refresh" button in your web browser to retry your request.Administrator Note: An error message detailing the cause of this specific request failure can be found in the application event log of the web server. Please review this log entry to discover what caused this error to occur.\[/code\]I am also checked with EventViewer... It says \[code\]Event Type: ErrorEvent Source: ASP.NET 4.0.30319.0Event Category: NoneEvent ID: 1001Date: 8/10/12Time: 9:55:47 AMUser: N/AComputer: SARAVANAN-Description:aspnet_wp.exe (PID: 1724) was recycled because memory consumption exceeded the 1221 MB (60 percent of available RAM).For more information, see Help and Support Center at http://go.microsoft.com/fwlink/events.asp.\[/code\]I dont know how to resolve this issue? Is there any way to increase the memory consumption limit of RAM for my IIS.Please guide me to get out of this issue...