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 unit conversion cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit conversion cost for May eTextbook and Media Your answer is incorrect. $ 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 2276 4..60 12,300 Assistance Used