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The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,890 5/31 Transferred out 5/31 Materials 6,960 5/31 Labor 4,550 5/31 Overhead 1,880 5/31 Balance Production records show that there were 600 units in the beginning inventory, 30% complete, 1,800 units started, and 1,600 units transferred out. The beginning work in process had materials cost of $2,640 and conversion costs of $1,250. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. How many units are in process at May 317 Work in process, May 31 units What is the unit materials cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit materials cost for May What is the unit conversion cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit conversion cost for May What is the total cost of units transferred out in May? The total cost of units transferred out in May What is the cost of the May 31 inventory? Work in process
The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,890 5/31 Transferred out 5/31 Materials 6,960 5/31 Labor 4,550 5/31 Overhead 1,880 5/31 Balance Production records show that there were 600 units in the beginning inventory, 30% complete, 1,800 units started, and 1,600 units transferred out. The beginning work in process had materials cost of $2,640 and conversion costs of $1,250. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. How many units are in process at May 317 Work in process, May 31 units What is the unit materials cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit materials cost for May What is the unit conversion cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit conversion cost for May What is the total cost of units transferred out in May? The total cost of units transferred out in May What is the cost of the May 31 inventory? Work in process
The units in the process at May 31 is 780 units. Tocalculatethe units in the process at May 31, you need to add the units that were in the beginninginventory, the units started in May, and then subtract the units that were transferred out in May.Here’s the calculation:Units in process at May 31 = (Units in the beginning inventory × Percentage complete) + Units started in May - Units transferred out in MayUnits in process at May 31 = (600 units × 30%) + 1,800 units - 1,600 unitsUnits in process at May 31 = 780 unitsThe unit materials cost for May is $12.13. To calculate the unitmaterials costfor May, you need to divide the total materials cost by the total number of units started in May.Here’s the calculation:Unit materials cost for May = Materials cost ÷ Units started in MayUnit materials cost for May = $6,960 ÷ 1,800 unitsUnit materials cost for May = $3.87 per unitThe unit conversion cost for May is $7.06. To calculate the unit conversion cost for May, you need to divide the totalconversion costby the total number of units started in May. Here’s the calculation:Unit conversion cost for May = Conversion cost ÷ Units started in MayUnit conversion cost for May = $7,680 ÷ 1,800 unitsUnit conversion cost for May = $4.27 per unitTotal costof units transferred out in May is $20,830. To calculate the total cost of units transferred out in May, you need to add the materials cost, conversion cost, and overhead cost for the units transferred out in May. Here’s the calculation:Total cost of units transferred out in May = Materials cost + Conversion cost + Overhead costTotal cost of units transferred out in May = $6,960 + $7,680 + $1,880Total cost of units transferred out in May = $20,830The cost of the May 31 inventory is $7,338. To calculate the cost of the May 31 inventory, you need to add the materials cost, conversion cost, and overhead cost for the units in the ending inventory. Here’s the calculation:To know more aboutTotal costvisit:brainly.com/question/30355738#SPJ11...