Ledger of custer company, The ledger of Custer Company has

Ledger of custer company

Assignment Help Accounting Basics

Reference no: EM13785030

The ledger of Custer Company has the following work in process account.

Work in Process-Painting
5/1	Balance	4,480	5/31	Transferred out	?
5/31	Materials	7,070
5/31	Labor	3,870
5/31	Overhead	2,380
5/31	Balance	?

Production records show that there were 550 units in the beginning inventory, 30% complete, 1,430 units started, and 1,580 units transferred out. The beginning work in process had materials cost of $2,760 and conversion costs of $1,720. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

(a) How many units are in process at May 31?

(b) What is the unit materials cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.)

Reference no: EM13785030

Questions Cloud

Assignment on analyze training needs : Normal 0 false false false EN-US X-NONE X-NONE Analyze Training Needs

Problems related to data collection methods : Is the following alternative hypothesis set for a two-tailed or a one-tailed test? What would be the null hypotheses?

Explain why you would use the approach described in article : Explain why you would use the approach described in the article regarding early childhood assessment and intervention that integrates a focus on environmental or contextual variables.

Ledger of custer company : The ledger of Custer Company has the following work in process account.

Importance of various human resource functions : Analyze the Importance of Various Human Resource Functions.

Determine controller''s monitored and controlled variables : Consider a simple patient monitoring system in which the software controller generates alarm signals when the patient's temperature or blood pressure falls outside safe ranges. The alarm signals and safe ranges are different for temperature and bl..

What is a current liability : What is a current liability? From the perspective of a user of financial statements, why do you believe current liabilities are separated from long-term liabilities?

Ways in which terrorists obtain financial backing : Discuss three (3) ways in which terrorists obtain financial backing to support their terrorist activities. Next, suggest one (1) tactic that local law enforcement agencies could take in order to prevent terrorist financing overall. Provide rationa..

User Account

All Pages