The ledger of Kinsler Company has the following work in process account.
Production records show that there were 700 units in the beginning inventory, 30% complete, 2,300 units started, and 2,500 units transferred. The beginning work in process had materials cost of $3,060 and conversion costs of $2,330. 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?

Question

The ledger of Kinsler Company has the following work in process account.  
Production records show that there were 700 units in the beginning inventory, 30% complete, 2,300 units started, and 2,500 units transferred. The beginning work in process had materials cost of $3,060 and conversion costs of $2,330. 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?

Quizplus · Accepted Answer

The Answer of The ledger of Kinsler Company has the following work in process account.  
Production records show that there were 700 units in the beginning inventory, 30% complete, 2,300 units started, and 2,500 units transferred. The beginning work in process had materials cost of $3,060 and conversion costs of $2,330. 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?

The Ledger of Kinsler Company Has the Following Work in Process