Exercise 16-3The ledger of Custer Company has the following work in process account.Work in Process—Painting5/1Balance4,7405/31Transferred out?5/31Materials6,7705/31Labor2,860

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Exercise 16-3The ledger of Custer Company has the following work in process account.

Work in Process—Painting

5/1 Balance 4,740  5/31Transferred out?5/31 Materials 6,770    5/31 Labor 2,860    5/31 Overhead 1,760    5/31 Balance ?

Production records show that there were 400 units in the beginning inventory, 30% complete, 1,470 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $3,010 and conversion costs of $1,730. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

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(a)

How many units are in process at May 31?Work in process, May 31  units


(b)

What is the unit materials cost for May?

(Round unit costs to 2 decimal places, e.g. 2.25.)

The unit materials cost for May $


(c)

What is the unit conversion cost for May?

(Round unit costs to 2 decimal places, e.g. 2.25.)

The unit conversion cost for May $

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