Production records show that there were 400 units in the beginning inventory , 30 % complete , 1,600 units started , and 1,700 units transferred out . The beginning work in process had materials cost of $ 2,040 and conversion costs of $ 1,550 . The units in ending inventory were 40 % complete . Materials are entered at the beginning of the painting process .
Instructions ( 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 ? ( d ) What is the total cost of units transferred out in May ? ( e ) What is the cost of the May 31 inventory ? E3-7
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017 , the first month of operation .
Production : 7,000 units finished and transferred out ; 3,000 units started that arc 100 % complete as to materials and 20 % complete as to conversion costs .
Manufacturing costs : Materials $ 33,000 ; labor $ 21,000 ; and overhead $ 36,000 .
Instructions Prepare a production cost report . E3-8