Homework Help is Here – Start Your Trial Now!
Business
Accounting
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 $1,065,900 for 2,090 production hours. Each unit requires 12 minutes of cell process time. During March, 810 DVR players were manufactured in the cell. The materials cost per unit is $65. The following summary transactions took place during March: 1. Materials were purchased for March production. 2. Conversion costs were applied to production. 3. 810 DVR players were assembled and placed in finished goods. 4.770 DVR players were sold for $296 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. per unit

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 $1,065,900 for 2,090 production hours. Each unit requires 12 minutes of cell process time. During March, 810 DVR players were manufactured in the cell. The materials cost per unit is $65. The following summary transactions took place during March: 1. Materials were purchased for March production. 2. Conversion costs were applied to production. 3. 810 DVR players were assembled and placed in finished goods. 4.770 DVR players were sold for $296 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. per unit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please dont give image based thnku

c. Journalize the summary transactions (1)-(4) for March. If an amount box does not require an entry, leave it blank. 1. Raw and In Process Inventory Accounts Payable ✔ 2. 3. Raw and In Process Inventory Conversion Costs V Finished Goods Inventory Raw and In Process Inventory 4. Sale Accounts Receivable Sales✔ 4. Cost Cost of Goods Sold Finished Goods Inventory
Transcribed Image Text:c. Journalize the summary transactions (1)-(4) for March. If an amount box does not require an entry, leave it blank. 1. Raw and In Process Inventory Accounts Payable ✔ 2. 3. Raw and In Process Inventory Conversion Costs V Finished Goods Inventory Raw and In Process Inventory 4. Sale Accounts Receivable Sales✔ 4. Cost Cost of Goods Sold Finished Goods Inventory
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 $1,065,900 for 2,090 production hours. Each unit requires 12 minutes of cell process time. During March, 810 DVR players were manufactured in the cell. The materials cost per unit is $65. The following summary transactions took place during March: 1. Materials were purchased for March production. 2. Conversion costs were applied to production. 3. 810 DVR players were assembled and placed in finished goods. 4.770 DVR players were sold for $296 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar, per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. per unit
Transcribed Image Text: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 $1,065,900 for 2,090 production hours. Each unit requires 12 minutes of cell process time. During March, 810 DVR players were manufactured in the cell. The materials cost per unit is $65. The following summary transactions took place during March: 1. Materials were purchased for March production. 2. Conversion costs were applied to production. 3. 810 DVR players were assembled and placed in finished goods. 4.770 DVR players were sold for $296 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar, per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. per unit
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Quality control
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS