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- Download: http://solutionzip.com/downloads/custer-company/
- Exercise 16-3
- The ledger of Custer Company has the following work in process account.
- Work in ProcessβPainting
- 5/1Balance 4,170
- 5/31Materials 7,190
- 5/31Labor 3,510
- 5/31Overhead 2,210
- 5/31Transferredout ?
- 5/31Balance ?
- Production records show that there were 500 units in the beginning inventory, 30% complete, 1,460 units started, and 1,450 units transferred out. The beginning work in process had materials cost of $2,480 and conversion costs of $1,690. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
- Instructions
- (a) How many units are in process at May 31?
- (b) What is the unit materials cost for May?
- (c) What is the unit conversion cost for May?
- (d) What is the total cost of units transferred out in May?
- (e) What is the cost of the May 31 inventory?
- Download: http://solutionzip.com/downloads/custer-company/
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