Exercise 3-3 (Video) The ledger of American Company has the following work in process account. 5/1 ? 5/31 5/31 5/31 Work in Process-Painting Balance 3,690 5/31 Transferred out Materials 6,900 Labor 4,098 Overhead 2,280 5/31 Balance ? Production records show that there were 500 units in the beginning inventory, 30% complete, 1,700 units started, and 1,600 units transferred out. The beginning work in process had materials cost of $2,340 and conversion costs of $1,350. 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 31 600 units x Your answer is incorrect. Try again. 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 2200 LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE x 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.) X The unit conversion cost for May 1940 LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE X Your answer is incorrect. Try again. What is the total cost of units transferred out in May? X The total cost of units transferred out in May 3.98 LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE x Your answer is incorrect. Try again. What is the cost of the May 31 inventory? Work in process 10560 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR EXERCISE