4. The ledger of Kinsler Company has the following work in process account. Due wed. Work in Process-Painting Balance 5,390 5/31 Transferred out Materials 7,740 5/31 5/31 Labor 4,110 2,470 5/31 Overhead 5/31 Balance Production records show that there were 700 units in the beginning Inventory, 30% complete, 2,900 units started, and 3,100 units transferred. The beginning work in process had materials cost of $3,060 and conversion costs of $2,330. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Instructions (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 transferred out in May? (e) What is the cost of the May 31 inventory? Step 2: Schedule of EUP's Step 1: Accounting for All Units BWIP 700 T-Out Started EWIP Total Materials Labor OH Total T-Out EWIP TOINEUP Step 3: Unit Cost Schedule BWIP Current Total EUP Unit Cost Mat Labor/OH Total Step 4: Production Cost Schedule T-Out EWIP: Materials Labor/OH Total Costs to be accounted for