Exercise 21-03 a-e The ledger of Lily Company has the following work in process account. Work in Process-Painting 3,790 5/31 Transferred out 5/1 Balance Materials 5/31 5,670 5/31 Labor 4,104 Overhead 5/31 1,680 5/31 Balance ? Production records show that there were 500 units in the beginning inventory, 30% complete, 1,800 units started, and 1,500 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. How many units are in process at May 31? units Work in process, May 31 What is the unit materials cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit materials cost for May What is the unit conversion cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) cost for Ma The unit conversion What is the total cost of units transferred out in May? The total cost of units transferred out in May What is the cost of the May 31 inventory? Work in process Open Showork Click if you would like to Show Work for this