f Chapter 16 Homework Question 6 of 10 1/5 III View Policies Show Attempt History Current Attempt in Progress The ledger of American Company has the following work in process account. MANUFACTURING COSTS WORK IN PROCESS Raw Materials Inventory Factory Labor Manufacturing Overhead FINISHED GOODS INVENTORY Painting Balance May 1 $3,690 Materials -$5,260 5,260 Labor -$2,582 2.582 Overhead $1,280 1,280 Transfer out -? ? Balance May 31 $? Production records show that there were 400 units in the beginning inventory, 30% complete, 1,600 units started, and 1,400 units transferred out. The beginning work in process had materials cost of $2,140 and conversion costs of $1,550. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. f Chapter 16 Homework Question 6 of 10 1/5 III X Your answer is incorrect. 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 $ 2000 e Textbook and Media X Your answer is incorrect. What is the unit conversion cost for May? (Round unit cost to 2 decimal places, eg. 2.25.) The unit conversion cost for May $ 3.7 e Textbook and Media Chapter 16 Homework Question 6 of 10 1/5 e X Your answer is incorrect. What is the total cost of units transferred out in May? The total cost of units transferred out in May $ 9.8 e Textbook and Media X Your answer is incorrect. What is the cost of the May 31 work in process inventory? Work in process $ e Textbook and Media