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

Production records show that there were 800 units in the beginning inventory, 30% complete, 1,100 units started, and 1,300 units transferred out. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Grogan uses the FIFO method to compute equivalent units.

Instructions
Answer the following questions.

(a) How many units are in process at May 31?

(b) What is the unit materials cost for May?

(c) What is the unit conversion cost for May?

(d) What is the total cost of units started in April and completed in May?

(e) What is the total cost of units started and finished in May?
(f ) What is the cost of the May 31 inventory?

Transcribed Image Text:

Work in Process-Painting 5/1 Balance 3,680 5/31 5/31 Materials 6,600 5/31 Labor 2,500 5/31 Overhead 1,400 5/31 Balance Transferred out