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  3. 6. graham petroleum produces oil. on may 1, it ha

6. Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It...

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Accounting

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Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It started production of 215 million barrels of oil in M and shipped 190 million barrels in the pipeline. The costs of the resources used by Graham in May consist of the following: Materials Conversion costs (labor and overhead) $ 2,560 million $ 3,320 million Required: The production supervisor estimates that the ending work in process is 80 percent complete on May 31. Compute the cost of oil shipped in the pipeline and the amount in work-in-process ending invento as of May 31. (Do not round intermediate calculations. Enter your answers in millions. For example, enter "1" instead of "1,000,000".) Cost of oil shipped in the pipeline Work-in-process ending inventory million million

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