Exercise 16-3 The ledger of American Company has the following work in process account. Work in Process-Painting 3,790 5/31 Transferred out Balance 5/1 5/31 Materials 5,560 5/31 Labor 2,930 5/31 Overhead 1,680 Balance 5/3 Production records show that there were 530 units in the beginning inventory, 30 % complete , 1,750 units started, and 1,480 units transferred out. The beginning work in process had materials cost of $2,840 and conversion costs of $950. The units in ending inventory were 40 % complete. Materials are entered at the beginning of the painting process. Your answer is correct. How many units are process at May 31? 800 units Work process, May 31 SHOW ANSWER: SHOW SOLUTION LINK TO TEXT INK TO TEKT Your answer is incorrect. Try again. What s the unit materials cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.) The uni erials cost for May 3.68 LTNH n TEXT LINK T TEXT X Your answer is incorrect. Try again What is the unit conversion cost for May? (Round unit cost to 3 decimal places, e.g. 2. 257.) The unit conversion cost for May 2.74 LINK TO TEXT LINK TO TEXT X Your answer is incorrect. Try again. What is the total cost of units transferred out in May? (Round answer to 0 decimal places, e.g. 1,225.) The total cost of units transferred out in May LINK TO TEXT LINK TO TEXT x Your answer is incorrect. Try again. What is the cost of the May 31 inventory? (Round answer to 0 decimal places, e.g. 1,225.) Work in process Open Show Work Click if you would like to Show Work for this question: LINK TO TEXT LINK TO TEXT