The ledger of American Company has the following work in process account.

                                       Work in Process-Painting

5/1     Balance      3,890                                 5/31      Transferred out         ?

5/31  Materials    6,960

5/31  Labor          4,550

5/31 Overhead    1,880

5/31 Balance           ?

Production records show that there were 600 units in the beginning inventory, 30% complete, 1,800 units started, and 1,600 units transferred out. The beginning work in process had materials cost of $2,640 and conversion costs of $1,250. 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 2 decimal places, e.g. 2.25.)

The unit materials cost for May $ (         ) 

What is the unit conversion cost for May? (Round unit cost to 2 decimal places, e.g. 2.25.)

The unit conversion cost for May $ (         ) 

What is the total cost of units transferred out in May?

The total cost of units transferred out in May $ (         )

What is the cost of the May 31 inventory?

Work in process $ (         )

Revelant knowledge 

Work in Progress: The term “work in progress” is a reference to the value of products that are in the pipeline. The value of the work in progress items is represented as complete items (equivalent cost) for the ease of calculation.