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The ledger of Sunland Company has the following work in process inventory account: 5/1 Balance 5/31 Direct materials 5/31 Factory labour 5/31 5/31 Balance. Manufacturing overhead Work in Process Inventory-Painting $3,520 7,310 2,380 254 $? 5/31 Completed and transferred out $? Production records show that there were 420 units in the beginning inventory, 35% complete, 1.160 units started into production, and 1,160 units completed and transferred out. The beginning work in process inventory had materials costs of $2,170 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 the painting process, and conversion costs are incurred uniformly throughout the process.

The ledger of Sunland Company has the following work in process inventory account: 5/1 Balance 5/31 Direct materials 5/31 Factory labour 5/31 5/31 Balance. Manufacturing overhead Work in Process Inventory-Painting $3,520 7,310 2,380 254 $? 5/31 Completed and transferred out $? Production records show that there were 420 units in the beginning inventory, 35% complete, 1.160 units started into production, and 1,160 units completed and transferred out. The beginning work in process inventory had materials costs of $2,170 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 the painting process, and conversion costs are incurred uniformly throughout the process.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The ledger of Sunland Company has the following work in process inventory account: Work in Process Inventory-Painting $3,520 7,310 2,380 5/1 5/31 Balance Direct materials Factory labour Manufacturing overhead 5/31 5/31 5/31 Balance 254 $? 5/31 Completed and transferred out $? Production records show that there were 420 units in the beginning inventory, 35% complete, 1.160 units started into production, and 1,160 units completed and transferred out. The beginning work in process inventory had materials costs of $2,170 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 the painting process, and conversion costs are incurred uniformly throughout the process.
Transcribed Image Text:The ledger of Sunland Company has the following work in process inventory account: Work in Process Inventory-Painting $3,520 7,310 2,380 5/1 5/31 Balance Direct materials Factory labour Manufacturing overhead 5/31 5/31 5/31 Balance 254 $? 5/31 Completed and transferred out $? Production records show that there were 420 units in the beginning inventory, 35% complete, 1.160 units started into production, and 1,160 units completed and transferred out. The beginning work in process inventory had materials costs of $2,170 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 the painting process, and conversion costs are incurred uniformly throughout the process.
How many units are in process at May 31? Work in process inventory (b) eTextbook and Media Your Answer Correct A wer (Used) What is the unit materials cost for May? (Round answer to 2 decimal places, e.g. 12.55.) (c) Unit materials cost $ What is the unit materials cost for May? (Round answer to 2 decimal places, e.g. 12.55.) Unit materials cost $ 11 What is the unit conversion cost for May? (Round answer to 2 decimal places, e.g. 12.55.) Unit conversion cost $ eTextbook and Media Save for Later Attempts: 2 of 3 used Attempts: 0 of 3 used Submit Answer
Transcribed Image Text:How many units are in process at May 31? Work in process inventory (b) eTextbook and Media Your Answer Correct A wer (Used) What is the unit materials cost for May? (Round answer to 2 decimal places, e.g. 12.55.) (c) Unit materials cost $ What is the unit materials cost for May? (Round answer to 2 decimal places, e.g. 12.55.) Unit materials cost $ 11 What is the unit conversion cost for May? (Round answer to 2 decimal places, e.g. 12.55.) Unit conversion cost $ eTextbook and Media Save for Later Attempts: 2 of 3 used Attempts: 0 of 3 used Submit Answer
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