The ledger of Sheridan Company has the following work in process inventory account. Work in Process-Painting 5/1 Balance 3,890 5/31 Completed and transferred out? 5/31 Direct materials 6,760 5/31 Direct labor 3,322 5/31 Manufacturing overhead 1,780 5/31 Balance Production records show that there were 500 units in the beginning inventory, 30% complete, 1,800 units started into production, and 1,500 units completed and 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 as to conversion costs. Materials are entered at the beginning of the painting process, and conversion costs are incurred uniformly throughout the process. (a) Your answer is correct. How many units are in process at May 31? Work in process, May 31 800 units What is the unit materials cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.) The unit materials cost for May 1.36 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 $ LINK TO TEXT LINK TO TEXT LINK TO TEXT What is the total cost of units transferred out in May? The total cost of units transferred out in May LINK TO TEXT LINK TO TEXT LINK TO TEXT What is the cost of the May 31 Inventory? Work in process Click if you would like to Show Work for this question: Open Show Work VIDEO: SIMILAR EXERCISE VIDEO: SIMILAR EXERCISE