Exercise 16-3 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 6,020 5/31 Labor 3,530 5/31 Overhead 1,980 5/31 Balance ? Production records show that there were 500 units in the beginning inventory, 30% complete, 1,610 units started, and 1,520 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 are entered at the beginning of the painting process. Your answer is incorrect. Try again. How many units are in process at May 31? Work in process, May 31 units Link to Text Link to Text Your answer is incorrect. Try again. What is the unit materials cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.) The unit materials cost for May $ Link to Text Link to Text Your answer is incorrect. Try again. What is the unit conversion cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.) The unit conversion cost for May $ Link to Text Link to Text Your answer is incorrect. Try again. What is the total cost of units transferred out in May? (Round answer to 0 decimal places, e.g. 1,225.) The total cost of units transferred out in May $ Link to Text Link to Text Your answer is incorrect. Try again. What is the cost of the May 31 inventory? (Round answer to 0 decimal places, e.g. 1,225.) Work in process $
Exercise 16-3 The ledger of American Company has the following work in process account. Work in...
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...
PRINTER VERSION BACK Exercise 21-3 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 5,720 5/31 Labor 2,830 5/31 Overhead 2,380 5/31 Balance Production records show that there were 470 units in the beginning inventory, 30% complete, 1,610 units started, and 1,410 units transferred out. The beginning work in process had materials cost of $3.140 and conversion costs of $650. The units in ending inventory were...
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...
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...
what is the cost of the May 31 inventory? Exercise 16-3 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 2,830 5/31 Overhead 1,280 5/31 Balance ? Production records show that there were 500 units in the beginning inventory, 30% complete, 1,680 units started, and 1,440 units transferred out. The beginning work in process had materials cost of $2,540 and conversion costs of...
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 1,580 5/31 Overhead 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...
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...
Question 1 The ledger of Magdy Company has the following work in process account: Question 1 The ledger of Magdy Company has the following work in process account: Work in Process-Painting 5/1 Balance $3,540 5/31 Transferred out $? 5/31 Materials 7,620 5/31 Labour 2,380 5/31 Overhead 1,252 5/31 Balance $? Production records show that there were 420 units in the beginning inventory, 35% complete, 1,160 units started, and 1,160 units transferred out. The beginning work in process had materials costs...