1) Work in process, May 31 = 500+1600-1500 = 600 Units
2) Equivalent unit of material = 1500+600 = 2100
Unit material cost = (2840+7030)/2100 = 4.70
3) Equivalent unit of conversion = 1500+(600*40%) = 1740
Unit conversion cost = (950+5648+1580)/1740 = 4.70
4) Total cost of unit transferred out = 9.4*1500 = 14100
5) Work in process = (600*4.7+240*4.7) = 3948
The ledger of American Company has the following work in process account. Work in Process-Painting 5/1...
The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,790 5/31 Transferred out 5/31 Materials 5,700 5/31 Labor 3,156 5/31 Overhead 2,080 5/31 Balance Production records show that there were 600 units in the beginning inventory, 30% complete, 1,600 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,440 and conversion costs of $1,350. The units in ending inventory were 40% complete. Materials are entered...
Exercise 3-3 (Video) The ledger of American Company has the following work in process account. ? Work in Process-Painting 5/1 Balance 3,790 5/31 Transferred out 5/31 Materials 5,930 5/31 Labor 4,068 5/31 Overhead 2,280 5/31 Balance Production records show that there were 600 units in the beginning inventory, 30% complete, 1,700 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $3,040 and conversion costs of $750. The units in ending inventory were 40%...
The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,790 5/31 Transferred out ? 5/31 Materials 7,030 5/31 Labor 5,648 5/31 Overhead 1,580 5/31 Balance Production records show that there were 500 units in the beginning inventory, 30% complete, 1,600 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2.840 and conversion costs of $950. The units in ending inventory were 40% complete. Materials are...
Exercise 3-3 (Video) The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,8905/31 Transferred out 5/31 Materials 5/31 Labor 5,320 3,018 1,380 5/31 Overhead 5/31 Balance Production records show that there were 400 units in the beginning inventory, 30% complete, 1,700 units started, and 1,400 units transferred out. The beginning work in process had materials cost of $2,240 and conversion costs of $1,650. The units in ending inventory were 40% complete. Materials...
The ledger of American Company has the following work in process account. ? Work in Process-Painting 5/1 Balance 3,790 5/31 Transferred out 5/31 Materials 5,650 5/31 Labor 3,330 5/31 Overhead 2,080 5/31 Balance Production records show that there were 570 units in the beginning inventory, 30% complete, 1,630 units started, and 1,530 units transferred out. The beginning work in process had materials cost of $2,440 and conversion costs of $1,350. The units in ending inventory were 40% complete. Materials are...
Exercise 16-3 The ledger of American Company has the following work in process account. ? Work in Process-Painting 5/1 Balance 3,790 5/31 Transferred out 5/31 Materials 6,990 5/31 Labor 3,130 5/31 Overhead 1,580 5/31 Balance Production records show that there were 500 units in the beginning inventory, 30% complete, 1,630 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,840 and conversion costs of $950. The units in ending inventory were 40% complete....
The ledger of American Company has the following work in process account. WORK IN PROCESS MANUFACTURING COSTS Raw Materials Factory Manufacturing Inventory Labor Overhead FINISHED GOODS INVENTORY $6,940 $4,766 Balance May 1 Materials Labor Overhead Transfer out Balance May 31 Painting $3,790 6,940 4,766 2,280 - ? $? -$2,280 ? Production records show that there were 600 units in the beginning inventory, 30% complete, 1,600 units started, and 1,600 units transferred out. The beginning work in process had materials cost...
The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,890 5/31 Transferred out 5/31 Materials 6,960 5/31 Labor 4,550 5/31 Overhead 1,880 5/31 Balance Production records show that there were 600 units in the beginning inventory, 30% complete, 1,800 units started, and 1,600 units transferred out. The beginning work in process had materials cost of $2,640 and conversion costs of $1,250. The units in ending inventory were 40% complete. Materials are entered...
The ledger of American Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,690 5/31 Transferred out ? 5/31 Materials 6,820 5/31 Labor 5,262 5/31 Overhead 1,280 5/31 Balance ? Production records show that there were 500 units in the beginning inventory, 30% complete, 1,800 units started, and 1,400 units transferred out. The beginning work in process had materials cost of $2,840 and conversion costs of $850. The units in ending inventory were 40% complete. Materials...
The ledger of American Company has the following work in process account. Work in Process—Painting 5/1 Balance 3,690 5/31 Transferred out ? 5/31 Materials 5,740 5/31 Labor 2,682 5/31 Overhead 2,480 5/31 Balance ? Production records show that there were 400 units in the beginning inventory, 30% complete, 1,700 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2,240 and conversion costs of $1,450. The units in ending inventory were 40% complete. Materials...