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CoursHeroTranscribedText: Che: k my work I Graham Petroleum produces oil. On May 'I, it had...

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Accounting

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CoursHeroTranscribedText: Che: k my work I Graham Petroleum produces oil. On May 'I, it had no work-in-process inventory. It started production of 213 million barrels of oil in May and shipped 133 million barrels in the pipeline. The costs of the resources used by Graham in May consist ofthe following: 2 poms Materials 5 3 , 3 53 million Conversion costs [labor and overhead] $3,270 million eamk Required: Print The production supervisor estimates that the ending work in process is 60 percent complete on May 31. Compute the cost of oil shipped in the pipeline and the amount in work-in-process ending inventory as of May 31. (Do not round intermediate calculations. "memes Enter your answers in millions. For example, enter '1' instead of "1.000,000".) Costafoil shipped in the pipeline $ 5,039 million Wom-in-prooess ending inventory

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