Lean Accounting The annual budgeted conversion costs for a lean cell are $151,200 for 2,800 production hours. Each unit produced by the cell requires 18 minutes of cell process time. During the month, 2,940 units are manufactured in the cell. The estimated materials cost is $67 per unit. Provide the following journal entries: (Do not round interim calculations. If required, round your answers to the nearest dollar) a. Materials are purchased to produce 3,090 units. b. Conversion costs are applied to 2,940 units of production. c. 2,790 units are completed and placed into finished goods b. 0000 000 000

Lean Accounting The annual budgeted conversion costs for a lean cell are $151,200 for 2,800 production hours. Each unit produced by the cell requires 18 minutes of cell process time. During the month, 2,940 units are manufactured in the cell. The estimated materials cost is $67 per unit. Provide the following journal entries: (Do not round interim calculations. If required, round your answers to the nearest dollar) a. Materials are purchased to produce 3,090 units. b. Conversion costs are applied to 2,940 units of production. c. 2,790 units are completed and placed into finished goods b. 0000 000 000

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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