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 $719,400 for 2,180 production hours. Each unit requires 10 minutes of cell process time. During March, 830 DVR players were manufactured in the cell. The materials cost per unit is $73. The following summary transactions took place during March: Materials were purchased for March production. Conversion costs were applied to production. 830 DVR players were assembled and placed in finished goods. 790 DVR players were sold for $227 per unit. a.  Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar. $fill in the blank 306481020facfbc_1 per hour b.  Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar. $fill in the blank 306481020facfbc_2 per unit c.  Journalize the summary transactions (1)–(4) for March. If an amount box does not require an entry, leave it blank. 1.   fill in the blank 22124d0d0fc9046_2 fill in the blank 22124d0d0fc9046_3     fill in the blank 22124d0d0fc9046_5 fill in the blank 22124d0d0fc9046_6 2.   fill in the blank 22124d0d0fc9046_8 fill in the blank 22124d0d0fc9046_9     fill in the blank 22124d0d0fc9046_11 fill in the blank 22124d0d0fc9046_12 3.   fill in the blank 22124d0d0fc9046_14 fill in the blank 22124d0d0fc9046_15     fill in the blank 22124d0d0fc9046_17 fill in the blank 22124d0d0fc9046_18 4. Sale   fill in the blank 22124d0d0fc9046_20 fill in the blank 22124d0d0fc9046_21     fill in the blank 22124d0d0fc9046_23 fill in the blank 22124d0d0fc9046_24 4. Cost   fill in the blank 22124d0d0fc9046_26 fill in the blank 22124d0d0fc9046_27     fill in the blank 22124d0d0fc9046_29 fill in the blank 22124d0d0fc9046_30

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 $719,400 for 2,180 production hours. Each unit requires 10 minutes of cell process time. During March, 830 DVR players were manufactured in the cell. The materials cost per unit is $73. The following summary transactions took place during March:

  1. Materials were purchased for March production.
  2. Conversion costs were applied to production.
  3. 830 DVR players were assembled and placed in finished goods.
  4. 790 DVR players were sold for $227 per unit.

a.  Determine the budgeted cell conversion cost per hour. If required, round to the nearest dollar.
$fill in the blank 306481020facfbc_1 per hour

b.  Determine the budgeted cell conversion cost per unit. If required, round to the nearest dollar.
$fill in the blank 306481020facfbc_2 per unit

c.  Journalize the summary transactions (1)–(4) for March. If an amount box does not require an entry, leave it blank.

1.   fill in the blank 22124d0d0fc9046_2 fill in the blank 22124d0d0fc9046_3
    fill in the blank 22124d0d0fc9046_5 fill in the blank 22124d0d0fc9046_6
2.   fill in the blank 22124d0d0fc9046_8 fill in the blank 22124d0d0fc9046_9
    fill in the blank 22124d0d0fc9046_11 fill in the blank 22124d0d0fc9046_12
3.   fill in the blank 22124d0d0fc9046_14 fill in the blank 22124d0d0fc9046_15
    fill in the blank 22124d0d0fc9046_17 fill in the blank 22124d0d0fc9046_18
4. Sale   fill in the blank 22124d0d0fc9046_20 fill in the blank 22124d0d0fc9046_21
    fill in the blank 22124d0d0fc9046_23 fill in the blank 22124d0d0fc9046_24
4. Cost   fill in the blank 22124d0d0fc9046_26 fill in the blank 22124d0d0fc9046_27
    fill in the blank 22124d0d0fc9046_29 fill in the blank 22124d0d0fc9046_30
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