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The ledger of Platt Company has the following work in process account: Work in Process-Painting 3/1 Balance $3,000 3/31 Transferred out $? 3/31 Materials 6,804
The ledger of Platt Company has the following work in process account: Work in Process-Painting 3/1 Balance $3,000 3/31 Transferred out $? 3/31 Materials 6,804 3/31 Labour 3/31 Overhead 1,428 3/31 Balance 2,120 Production records show that there were 850 units in the beginning inventory, 30% complete, 1,080 units started, and 1,250 units transferred out. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process. Platt uses the FIFO method to calculate equivalent units. Answer the following questions. How many units are in process at March 31? Work in process, March 31 units What is the unit materials cost for March? (Round unit cost to 2 decimal places, e.g. 15.25.) Unit cost What is the unit conversion cost for March? (Round unit cost to 2 decimal places, e.g. 15.25.) Unit cost What is the total cost of units started in February and completed in March? (Round answer to 0 decimal places, e.g. 5,275.) Total cost What is the total cost of units started and finished in March? (Round answer to 0 decimal places, e.g. 5,275.) Total cost What is the cost of the March 31 inventory? (Round answer to 0 decimal places, e.g. 5,275.) Total cost
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