E3.3 (LO 2, 3, 4), AP The ledger of American Company has the following work in process inventory account. Work in Process-Painting 5/1 Balance 3,590 5/31 Completed and transferred out ? 5/31 Direct materials 5,160 5/31 Direct labor 2,530 5/31 Manufacturing overhead 1,380 5/31 Balance ? Production records show that there were 400 units in the beginning inventory, 30% complete, 1,600 units started into production, and 1,700 units completed and transferred out. The beginning work in process had materials cost of $2,040 and conversion costs of $1,550. The units in ending inventory were 40% complete as to conversion costs. Materials are entered at the beginning of the painting process, and conversion costs are incurred uniformly throughout the 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 completed and transferred out in May? e. What is the cost of the May 31 work in process inventory? Journalize transactions for two processes.