1 answer

The ledger of American Company has the following work in process account. Work in Process-Painting 5/1...

Question:

The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,790 5/31 Tra
The ledger of American Company has the following work in process account. Work in Process-Painting 5/1 Balance 3,790 5/31 Transferred out ? 5/31 Materials 7,030 5/31 Labor 5,648 5/31 Overhead 1,580 5/31 Balance Production records show that there were 500 units in the beginning inventory, 30% complete, 1,600 units started, and 1,500 units transferred out. The beginning work in process had materials cost of $2.840 and conversion costs of $950. 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

Answers

a) Units in ending WIP = Beginning WIP+Unit started-Unit completed

= 500+1600-1500

Units in ending WIP = 600 Units

.

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