Maurice Tutor

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Category > Accounting Posted 06 Aug 2017 My Price 6.00

Custer Company

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

Work in Process—Painting
5/1 Balance 4,800 5/31 Transferred out ?
5/31 Materials 5,620      
5/31 Labor 3,380      
5/31 Overhead 2,430      
5/31 Balance ?      


Production records show that there were 490 units in the beginning inventory, 30% complete, 1,460 units started, and 1,600 units transferred out. The beginning work in process had materials cost of $3,070 and conversion costs of $1,730. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

 

 

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

 

 

(b)What is the unit materials cost for May?(Round unit costs to 2 decimal places, e.g. 2.25.)

 

 

(c)What is the unit conversion cost for May?(Round unit costs to 2 decimal places, e.g. 2.25.)

Answers

Maurice Tutor
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Status NEW Posted 06 Aug 2017 08:08 PM My Price 6.00

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