Please Correct answer with Explanation The ledger of Ivanhoe Company has the following work in process inventory account.5/1 BalanceWork in Process-Painting5/31 Direct materials5/31 Direct labor5/31 Manufacturing overhead5/31 Balance3,690 5/31 Completed and transferred out ?8,6604,0982,280?Production records show that there were 500 units in the beginning inventory, 30% complete, 1,700 units started into production, and1,600 units completed and transferred out. The beginning work in process had materials cost of $2,340 and conversion costs of$1,350. The units in ending inventory were 40% complete as to conversion costs. Materials are entered at the beginning of thepainting process, and conversion costs are incurred uniformly throughout the process. The ledger of Ivanhoe Company has the following work in process inventory account.5/1 Balance3,690 5/31 Completed and transferred out ?5/31 Direct materials.8,6605/31 Direct labor4,0985/31 Manufacturing overhead 2,2805/31 BalanceShow Transcribed TextProduction records show that there were 500 units in the beginning inventory, 30% complete, 1,700 units started into production, and1,600 units completed and transferred out. The beginning work in process had materials cost of $2,340 and conversion costs of$1,350. The units in ending inventory were 40% complete as to conversion costs. Materials are entered at the beginning of thepainting process, and conversion costs are incurred uniformly throughout the process.Work in Process-PaintingeTextbook and MediaWhat is the unit materials cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.)The unit materials cost for May $* Your answer is incorrect.?The unit conversion cost for MayShow Transcribed TextWhat is the unit conversion cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.)The total cost of units transferred out in MayeTextbook and Media4.78* Your answer is incorrect.Work in process $What is the total cost of units completed and transferred out in May?C3.983823.2C$What is the cost of the May 31 work in process inventory?14892

Name: Please Correct answer with Explanation The ledger of Ivanhoe Company h
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Please Correct answer with Explanation The ledger of Ivanhoe Company has the following work in process inventory account.5/1 BalanceWork in Process-Painting5/31 Direct materials5/31 Direct labor5/31 Manufacturing overhead5/31 Balance3,690 5/31 Comple