The ledger of Molindo Company has the following work in processaccount.
|
Work in Process-Painting
|
|
5/1
|
Balance
|
3,590
|
5/31
|
Transferred out
|
?
|
|
5/31
|
Materials
|
5,160
|
|
|
|
|
5/31
|
Labor
|
2,740
|
|
|
|
|
5/31
|
Overhead
|
1,650
|
|
|
|
|
5/31
|
Balance
|
?
|
|
|
|
Production records show that there were 400 units in thebeginning inventory, 30% complete, 1,100 units started, and 1,200units transferred out. The beginning work in process had materialscost of $2,040 and conversion costs of $1,550. The units in endinginventory were 40% complete. Materials are entered at the beginningof the painting process.
How many units are in process at May 31? 300units
What is the unit materials cost for May?
What is the unit conversion cost for May?
What is the total cost of units transferred out in May?
What is the cost of the May 31 inventory?