Question 4 of 6 Show Attempt History < Current Attempt in Progress The ledger of Ivanhoe Company has the following work in process inventory account. Work in Process-Painting 5/1 Balance 3.690 5/31 Completed and transferred out? 5/31 Direct materials 6.160 5/31 Direct labor 2.682 5/31 Manufacturing overhead 2.480 5/31 Balance ? 1.2/6 I Production records show that there were 400 units in the beginning inventory, 30% complete, 1.700 units started into production, and 1.500 units completed and transferred out. The beginning work in process had materials cost of $2.240 and conversion costs of $1,450. The units in ending inventory were 40% complete as to conversion costs. Materials are entered at the beginning of the painting process, and conversion costs are incurred uniformly throughout the process (a)