The ledger of Magdy Company has the following work in process account:

Production records show that there were 400 units in the beginning inventory, 30% complete, 1,200 units started, and 1,200 units transferred out. The beginning work in process had materials cost of $2,020 and conversion costs of $1,550.The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
Instructions
Answer the following questions:
(a) HowmanyunitsareinprocessatMay31?
(b) What is the unit materials cost for May?
(c) What is the unit conversion cost for May?
(d) What is the total cost of units transferred out in May?
(e) What is the cost of the May 31 inventory?

Transcribed Image Text:

Work in Process Painting 5/1 Balance 513 Materials 5/31 Labour 5/31 5/31 Balance $3,5705/31 Transferred out $? 6,460 2,400 1,626 Overhead