(Round unit cost to 3 decimal places, e.g. 2.257.)

(c) What is the unit conversion cost for May?

(d) What is the total cost of units transferred out in May?

(e) What is the cost of the May 31 inventory?

Exercise 17-3 (Part Level Submission) The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 5/31 Materials 7,120 5/31 Labor 5/31 Overhead 2,280 5/31 Balance 3,790 5/31 Transferred out? 3,630 Production records show that there were 550 units in the beginning inventory, 30% complete, 1,620 units started, and 1,550 units transferred out. The beginning work in process had materials cost of $2,740 and conversion costs of $1,050. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process