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    teachk12's Avatar
    teachk12 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 13, 2014, 09:53 AM
    Accounting question
    The ledger of Custer Company has the following work in process account.

    Work in Process—Painting
    5/1 Balance 4,670 5/31 Transferred out ?
    5/31 Materials 5,590
    5/31 Labor 4,090
    5/31 Overhead 1,540
    5/31 Balance ?

    Production records show that there were 490 units in the beginning inventory, 30% complete, 1,570 units started, and 1,540 units transferred out. The beginning work in process had materials cost of $2,940 and conversion costs of $1,730. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
    How many units are in process at May 31? I got the answer as 520 units for this question.
    What is the unit materials cost for May?
    What is the unit conversion cost for May?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
    		  
    #2

    Jun 16, 2014, 06:08 AM
    ???
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