Reference no: EM13784713
The ledger of Custer Company has the following work in process account.
Work in Process-Painting
5/1 Balance 3,960 5/31Transferred out?
5/31 Materials 5,770
5/31 Labor 4,330
5/31 Overhead 1,710
5/31 Balance ?
Production records show that there were 410 units in the beginning inventory, 30% complete, 1,510 units started, and 1,400 units transferred out. The beginning work in process had materials cost of $2,240 and conversion costs of $1,720. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
Work in progress, May 31: 520 units
Unit Materials cost for May: $4.17
Unit Conversion cost for May: $4.83
QUESTIONS:
(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 $
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