Exercise 16-03 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 Materiais 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, 50% complete, 1.000 units started, and 1,500 units transferred out. The beginning work in proces hund 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 Your answer is incorrect. Try again How many units are in process at May 31 Work in process, May 31 1.900 hits LINE TO VIDEO LINK TO TEXT CALCULATOR PRINTER VERSION 5 What is the unit materials cost for May (Round unit cost to 2 decimal places, 9. 2.25.) The unit materials cost for May 2:54 LK TO VIDEO LINK TO TEXT Your answer is incorrect. Try again 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 2.96 LINK TO VIDEO LINK TO TEXT Your answer is incorrect. Try again What is the total cost of units transferred out in May? The total cost of units transferred out in May 3,250 x Your answer is incorrect. Try again. What is the cost of the May 31 inventory? X Work in process 7,075.60 Click if you would like to Show Work for this question: Open Show Work