"Exercise 16.3 Custer Company"…Complete Answer! Thanks
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The ledger of Custer Company has the following work in process account.
Work in Process—Painting
5/1 Balance 4,720 5/31 Transferred out ? 5/1 Balance 4,720 5/31 Transferred out ?
5/31 Materials 7,220 5/31 Materials 7,220
5/31 Labor 4,280 5/31 Labor 4,280
5/31 Overhead 2,070 5/31 Overhead 2,070
5/31 Balance ? 5/31 Balance ?
Production records show that there were 430 units in the beginning inventory, 30% complete, 1,500 units started, and 1,450 units transferred out. The beginning work in process had materials cost of $3,030 and conversion costs of $1,690. 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?
(b) What is the unit materials cost for May?
(c) What is the unit conversion cost for May?
[Solved] "Exercise 16.3 Custer Company"…Complete Answer! Thanks
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- Submitted On 04 Aug, 2016 06:45:53
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"Exercise 16.3 Custer Company"…Complete Answer! Thanks
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