Exercise 16-3 The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 5/31 Materials5,560 5/31 Labor 5/31 Overhead1,680 3,7905/31 Transferred out ? 2,930 5/31 Balance 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 in process at May 31? Work in process, May 3:1 800 units LINK TO TEXT LINK TO TEXT Your answer is correct. 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 3.684 LINK TO TEXT LINK TO TEXT