Question
The ledger of American Company has the following work in process account. Work in ProcessPainting 5/1 Balance 3,790 5/31 Transferred out ? 5/31 Materials 5,720
- The ledger of American Company has the following work in process account.
| Work in ProcessPainting | |||||
| 5/1 | Balance | 3,790 | 5/31 | Transferred out | ? |
| 5/31 | Materials | 5,720 | |||
| 5/31 | Labor | 2,830 | |||
| 5/31 | Overhead | 2,380 |
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| 5/31 | Balance | ? |
- Productionrecordsshowthattherewere470unitsinthebeginninginventory,30%complete,1,610unitsstarted,and1,410unitstransferredout.Thebeginningworkinprocesshadmaterialscostof$3,140andconversioncostsof$650.Theunitsinendinginventorywere40%complete.Materialsareenteredatthebeginningofthepaintingprocess.
How many units are in process at May 31?
What is the unit materials cost for May?
What is the unit conversion cost for May?
What is the total cost of units transferred out in May?
What is the cost of the May 31 inventory?
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Accounting Information Systems
Authors: George H Bodnar, William S Hopwood
10th Edition
013609712X, 978-0136097129
