Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar. $fill in the blank c00542f5ffcb016_1 per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. $fill in the blank c00542f5ffcb016_2 per unit c. Journalize the summary transactions (1)–(4) for March. 1. fill in the blank b375eaf5ffc9f87_2 fill in the blank b375eaf5ffc9f87_4 2. fill in the blank b375eaf5ffc9f87_6 fill in the blank b375eaf5ffc9f87_8 3. fill in the blank b375eaf5ffc9f87_10 fill in the blank b375eaf5ffc9f87_12 4. Sale fill in the blank b375eaf5ffc9f87_14 fill in the blank b375eaf5ffc9f87_16 4. Cost fill in the blank b375eaf5ffc9f87_18 fill in the blank b375eaf5ffc9f87_20
Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
6.
Lean Accounting
Westgate Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The company manufactures DVR players through a single product cell. The budgeted conversion cost for the year is $869,700 for 2,230 production hours. Each unit requires 12 minutes of cell process time. During March, 990 DVR players were manufactured in the cell. The materials cost per unit is $69. The following summary transactions took place during March:
- Materials were purchased for March production.
- Conversion costs were applied to production.
- 990 DVR players were assembled and placed in finished goods.
- 940 DVR players were sold for $260 per unit.
a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar.
$fill in the blank c00542f5ffcb016_1 per hour
b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar.
$fill in the blank c00542f5ffcb016_2 per unit
c. Journalize the summary transactions (1)–(4) for March.
| 1. | fill in the blank b375eaf5ffc9f87_2 | ||
| fill in the blank b375eaf5ffc9f87_4 | |||
| 2. | fill in the blank b375eaf5ffc9f87_6 | ||
| fill in the blank b375eaf5ffc9f87_8 | |||
| 3. | fill in the blank b375eaf5ffc9f87_10 | ||
| fill in the blank b375eaf5ffc9f87_12 | |||
| 4. Sale | fill in the blank b375eaf5ffc9f87_14 | ||
| fill in the blank b375eaf5ffc9f87_16 | |||
| 4. Cost | fill in the blank b375eaf5ffc9f87_18 | ||
| fill in the blank b375eaf5ffc9f87_20 |
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