The ledger of American Company has the following work in process account. Work in ProcessPainting | 5/1 | Balance | 3,690 | 5/31 | Transferred out | ? | 5/31 | Materials | 5,260 | 5/31 | Labor | 2,630 | 5/31 | Overhead | 1,280 | | | | 5/31 | Balance | ? | Production records show that there were400units in the beginning inventory, 30% complete,1,600units started, and1,400units transferred out. The beginning work in process had materials cost of $2,140and conversion costs of $1,550. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. | | | |