US Kimmel, Accounting: Tools for Business Decision Making, Se FINANCIAL AND MANAGERIAL AccouNTING Exercise 16-3 The ledger of custer Company has the following work in process account. 3,590 5/31 Transferred out 5,160 5/31 5/31 Balance Production records show that there were 400 units in the beginning inventory 30% complete, 1,600 units started, nd 1,soo units transterred out. The beginning workin processha materials cost of $2.040 and conversion costs of $1,5S0. The units in ending inventory were 40% complete. Materials are entered at the beginnng of the painting process. (a) How many units are in process at May 31? Work in process, May 31 (b) what is the unit materials cost for May? (Round unit cost to J decimal places, eg, 2.257.) The unit materials cost for May unie cost to 3 decuma places (c) What is the unit conversion cost for May? (Rou The unit conversion cost for May s (a) what is the total cost of units transsenred out in Mav? rRound answer to o decima places, e e 225,2 AI Rights Reserved, A Division of s sons