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Kindly answer these two questions, thank you. The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,890

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Kindly answer these two questions, thank you.

The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,890 5/31 Transferred out ? 5/31 Materials 5,840 5/31 Labor 3,322 5/31 Overhead 1,780 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 $2,440 and conversion costs of $1,450. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. What is the total cost of units transferred out in May? The total cost of units transferred out in May $ eTextbook and Media * Your answer is incorrect. What is the cost of the May 31 inventory? Work in process $ The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,890 5/31 Transferred out ? 5/31 Materials 5,840 5/31 Labor 3,322 5/31 Overhead 1,780 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 $2,440 and conversion costs of $1,450. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. What is the total cost of units transferred out in May? The total cost of units transferred out in May $ eTextbook and Media * Your answer is incorrect. What is the cost of the May 31 inventory? Work in process $

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