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accouting

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



Work in Process—Painting

5/1 Balance 4,820 5/31 Transferred out ?
5/31 Materials 5,710
5/31 Labor 4,800
5/31 Overhead 2,430
5/31 Balance ?

Production records show that there were 410 units in the beginning inventory, 30% complete, 1,550 units started, and 1,430 units transferred out. The beginning work in process had materials cost of $3,110 and conversion costs of $1,710. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

What is the unit materials cost for May?
Can someone explain to me how to get this answer please?

  • accouting - ,

    First you have to calculate a) which is 530.
    410+ 550-1430= 530

    Then,
    1430+530=1960
    Work in process May1 $3,110
    Added Cost $5710 (materials)
    Total Cost $8,820 / 1960= $4.50 (whichever decimal place)

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