work in process painting 5 1 balance 4 360 5 31 transferred out 5 31 materials 5 430 422580
Aug 29, 2021 | Uncategorized
| Work in Process—Painting |
| 5/1 |
Balance |
4,360 |
5/31 |
Transferred out |
? |
| 5/31 |
Materials |
5,430 |
|
|
|
| 5/31 |
Labor |
4,470 |
|
|
|
| 5/31 |
Overhead |
1,510 |
|
|
|
| 5/31 |
Balance |
? |
|
|
|
Production records show that there were430units in the beginning inventory, 30% complete,1,560units started, and1,480units transferred out. The beginning work in process had materials cost of $2,680and conversion costs of $1,680. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.
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