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Please help me answer part B (includes a and b) to this! thank you. The ledger of Custer Company has the following work in process
Please help me answer part B (includes a and b) to this! thank you.
The ledger of Custer Company has the following work in process account
What is the total cost of units transferred out in May?
What is the cost of the May 31 inventory?
Work in Process-Painting 5/1 Balance 5/31 Materials 5/31 Labor 5/31 Overhead 5/31 Balance 3,7705/31 Transferred out ? 6,510 3,980 1,450 Production records show that there were 410 units in the beginning inventory, 30% complete, 1,430 units started, and 1,450 units transferred out. The beginning work in process had materials cost of $2,390 and conversion costs of $1,380. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. (a) Your answer is correct. (a) How many units are in process at May 31? Work in process, May 31 (b) 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 (c) What is the unit conversion cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.) The unit conversion cost for May 390 units 4.84 4.24Step by Step Solution
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