Exercise 16-3 The ledger of American Company has the following work in process account.

Work in ProcessPainting
5/1	Balance	3,590	5/31	Transferred out	?
5/31	Materials	5,160
5/31	Labor	2,530
5/31	Overhead	1,380
5/31	Balance	?

Production records show that there were400units in the beginning inventory, 30% complete,1,600units started, and1,700units transferred out. The beginning work in process had materials cost of $2,040and conversion costs of $1,550. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

How many units are in process at May 31?

Work in process, May 31

units

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What is the unit materials cost for May?(Round unit cost to 3 decimal places, e.g. 2.257.)

The unit materials cost for May

$

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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

$

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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

$

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What is the cost of the May 31 inventory?(Round answer to 0 decimal places, e.g. 1,225.)

Work in process

$

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