| Exercise 16-3 |
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The ledger of Custer Company has the following work in process account.
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Work in Process—Painting
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| 5/1 |
Balance |
4,350 |
5/31 |
Transferred out |
? |
| 5/31 |
Materials |
6,630 |
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| 5/31 |
Labor |
3,590 |
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| 5/31 |
Overhead |
1,730 |
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| 5/31 |
Balance |
? |
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Production records show that there were 460 units in the beginning inventory, 30% complete, 1,570 units started, and 1,440 units transferred out. The beginning work in process had materials cost of $2,610 and conversion costs of $1,740. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
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| (a), (b) and (c) |
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(a) How many units are in process at May 31?
| Work in process, May 31 |
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[removed]
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units |
(b) What is the unit materials cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.)
| The unit materials cost for May |
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$ [removed] |
(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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$ [removed] |
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