Reference no: EM131768978
The ledger of American Company has the following work in process account.
Work in Process-Painting
5/1 Balance 3,690 5/31 Transferred out
5/31 Materials 5,260
5/31 Labor 2,630
5/31 Overhead 1,280
5/31 Balance ?
Production records show that there were 400 units in the beginning inventory, 30% complete, 1,600 units started, and 1,400 units transferred out. The beginning work in process had materials cost of $2,140 and conversion costs of $1,550. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
What is the unit materials cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.)
What is the unit conversion cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.)
What is the total cost of units transferred out in May? (Round answer to 0 decimal places, e.g. 1,225.)
What is the cost of the May 31 inventory? (Round answer to 0 decimal places, e.g. 1,225.)
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