Production records show that there were 490 units in the

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Reference no: EM13585366

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

Work in Process-Painting
5/1	Balance	3,760	5/31	Transferred out	?
5/31	Materials	6,800
5/31	Labor	3,710
5/31	Overhead	2,100
5/31	Balance	?

Production records show that there were 490 units in the beginning inventory, 30% complete, 1,580 units started, and 1,530 units transferred out. The beginning work in process had materials cost of $2,820 and conversion costs of $940. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

(a) What is the total cost of units transferred out in May? (Round answer to 0 decimal places, e.g. 1,225.)

The total cost of units transferred out in May

(b) What is the cost of the May 31 inventory? (Round answer to 0 decimal places, e.g. 1,225.)

Work in process

Reference no: EM13585366

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