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2

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Exercise 3 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 5,260 5/31 Labor 2,630 5/31 Overhead 1,280 5/31 Balance Production records show that there were 400 units in the beginning inventory, 30% complete, i 600 units started, and i 400 units transfe ed out. The beginning work in process had materials cost of $2,140 and conversion costs of Si,sso. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process How many units are in process at May 31 Work in process, May 31 units What is the unit materials cost for May? (Round unit cost to 3 decmal places, e.g. 2.257.) The unit materials cost for May