Acoustic Systems, Inc. manufactures audio speakers. Each speaker requires $115 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period:

Speaker assembly cell estimated costs:

Cell labor ...........$43,100

Cell depreciation ..........5,900

Cell supplies ...........2,200

Cell power ..............1,300

Total cell costs for the period ....$52,500

The operating plan calls for 175 operating hours for the period. Each speaker requires 18 minutes of cell process time. The unit selling price for each speaker is $310. During the period, the following transactions occurred:

1. Purchased materials to produce 400 speaker units.

2. Applied conversion costs to production of 380 speaker units.

3. Completed and transferred 365 speaker units to finished goods.

4. Sold 350 speaker units.

There were no inventories at the beginning of the period.

a. Journalize the summary transactions (1)–(4) for the period.

b. Determine the ending balance for raw and in-process inventory and finished goods inventory.