Exercise 16-3The ledger of Custer Company has the following work in process account.Work in ProcessPainting5/1 Balance 4,740 5/31Transferred out?5/31 Materials 6,770 5/31 Labor 2,860 5/31 Overhead 1,760 5/31 Balance ? Production records show that there were 400 units in the beginning inventory, 30% complete, 1,470 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $3,010 and conversion costs of $1,730. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.Warning Don’t show me this message again for the assignmentOk Cancel (a), (b) and (c)(a) How many units are in process at May 31?Work in process, May 31 units(b) What is the unit materials cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.)The unit materials cost for May $(c) What is the unit conversion cost for May? (Round unit costs to 2 decimal places, e.g. 2.25.)The unit conversion cost for May $Warning Don’t show me this message again for the assignmentOk Cancel Link to TextLink to Text
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