Lean Accounting Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $38. The budgeted conversion cost for the year is $99,000 for 1,500 production hours. A unit of Style Omega requires 10 minutes of cell production time. The following transactions took place during June: 1. Materials were acquired to assemble 830 Style Omega units for June. 2. Conversion costs were applied to 830 Style Omega units of production. 3. 770 units of Style Omega were completed in June. 4. 720 units of Style Omega were sold in June for $100 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest cent. $[ per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest cent. per unit c. Journalize the summary transactions (1)-(4) for

Lean Accounting Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $38. The budgeted conversion cost for the year is $99,000 for 1,500 production hours. A unit of Style Omega requires 10 minutes of cell production time. The following transactions took place during June: 1. Materials were acquired to assemble 830 Style Omega units for June. 2. Conversion costs were applied to 830 Style Omega units of production. 3. 770 units of Style Omega were completed in June. 4. 720 units of Style Omega were sold in June for $100 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest cent. $[ per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest cent. per unit c. Journalize the summary transactions (1)-(4) for

Name: Lean AccountingModern Lighting Inc. manufactures lighting fixtures,us
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Description: Lean AccountingModern Lighting Inc. manufactures lighting fixtures,using lean manufacturing methods. Style Omega has amaterials cost per unit of $38. The budgeted conversioncost for the year is $99,000 for 1,500 production hours.A unit of Style Omeg

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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