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Category > Accounting Posted 17 Aug 2017 My Price 7.00

Custer Company

E3-3  The ledger of Custer Company has the following work in process account.

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

1,380

5/31

Balance

?

 

 

Production records show that there were 400 units in the beginning inventory, 30% complete, 1,400 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,040 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

(a)   How many units are in process at May 31?

(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?

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 04:08 PM My Price 7.00

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