Assignment:
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.
- What is the unit materials cost for May? (Round unit cost to 3 decimal places, e.g. 2.257.)
Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.