The annual budgeted conversion costs for a lean cell are $155,800 for 1,900 production hours. Each unit produced by the cell requires 9 minutes of cell process time. During the month, 2,790 units are manufactured in the cell. The estimated materials costs are $76 per unit. (Round the per unit cost to the nearest cent and use in subsequent computations. If required, round your answers to the nearest dollar.) Journalize the following entries for the month: a. Materials are purchased to produce 2,940 units. b. Conversion costs are applied to 2,790 units of production. c. The cell completes 2,650 units, which are placed into finished goods. If an amount box does not require an entry, leave it blank. a. ? ? ? ? b. ? ? ? ? c. ? ? ? ?
The annual budgeted conversion costs for a lean cell are $155,800 for 1,900 production hours. Each unit produced by the cell requires 9 minutes of cell process time. During the month, 2,790 units are manufactured in the cell. The estimated materials costs are $76 per unit. (Round the per unit cost to the nearest cent and use in subsequent computations. If required, round your answers to the nearest dollar.) Journalize the following entries for the month: a. Materials are purchased to produce 2,940 units. b. Conversion costs are applied to 2,790 units of production. c. The cell completes 2,650 units, which are placed into finished goods. If an amount box does not require an entry, leave it blank. a. ? ? ? ? b. ? ? ? ? c. ? ? ? ?
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter13: Lean Manufacturing And Activity Analysis
Section: Chapter Questions
Problem 3BE
Related questions
Question
Lean Accounting
The annual budgeted conversion costs for a lean cell are $155,800 for 1,900 production hours. Each unit produced by the cell requires 9 minutes of cell process time. During the month, 2,790 units are manufactured in the cell. The estimated materials costs are $76 per unit.
(Round the per unit cost to the nearest cent and use in subsequent computations. If required, round your answers to the nearest dollar.)
Journalize the following entries for the month:
a. Materials are purchased to produce 2,940 units.
b. Conversion costs are applied to 2,790 units of production.
c. The cell completes 2,650 units, which are placed into finished goods.
If an amount box does not require an entry, leave it blank.
a. | ? | ? | |
? | ? | ||
b. | ? | ? | |
? | ? | ||
c. | ? | ? | |
? | ? |
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
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
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
![Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781337912020/9781337912020_smallCoverImage.jpg)
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College