QUESTION:

A.) What is the unit conversion cost for May?

B.) What is the total cost of units transferred out in May?

C.) What is the cost of the May 31 inventory?

The ledger of Oriole Company has the following work in process account. Production records show that there were 800 units in the beginning inventory, 30% complete, 1,100 units started, and 1,400 units completed and transferred out. The units in ending inventory were 40% complete. Materials are added at the beginning of the painting process, and conversion costs are incurred uniformly throughout the process. Oriole Company uses the FIFO method to compute equivalent units