Exercise 16-3 (Part Level Submission) The ledger of American Company has the fol

Question

Exercise 16-3 (Part Level Submission)

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

Exercise 16-3 (Part Level Submission) The ledger of American Company has the following work in process account. Work in Process-Painting 3,790 5/31 Transferred out? 5/1 Balance 5/31 Materials5,650 5/31 Labor 5/31 Overhead 2,080 3,330 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 entered at the beginning of the painting process. (a) How many units are in process at May 31? Work in process, May 31 units Click if you would like to Show Work for this question: Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER

Explanation / Answer

Units in Work in Process May 31 = 570+1630-1530= 670

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