Reference no: EM132649257

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

Work in Process-Painting

5/1 Balance 3,890

5/31Transferred out?

5/31 Materials 5,900

5/31 Labor 3,066

5/31 Overhead 2,480

5/31 Balance ?

Production records show that there were 600 units in the beginning inventory, 30% complete, 1,800 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,740 and conversion costs of $1,150. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

Question 1: How many units are in process at May 31?

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

Question 3: What is the unit conversion cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.)

Question 4: What is the total cost of units transferred out in May?

Question 5: What is the cost of the May 31 inventory?