3. Lean Accounting Vintage Audio 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: Labor Depreciation Supplies Power Total cell costs for the period $50,180 6,730 2,450 1,840 $61,200 The operating plan calls for 170 operating hours for the period. Each speaker requires 15 minutes of cell process time. The unit selling price for each speaker is $312. During the period, the following transactions occurred: 1. Purchased materials to produce 620 speaker units. 2. Applied conversion costs to production of 590 speaker units. 3. Completed and transferred 565 speaker units to finished goods. 4. Sold 540 speaker units. There were no inventories at the beginning of the period. a. Journalize the summary transactions (1)-(4) for the period. Round the per unit cost to the nearest cent and use in subsequent computations. If an amount box does not require an entry, leave it blank. 1. 2. 4. Sale 10 00 00 00 00 00 4. Cost 38 b. Determine the ending balance of raw and in process inventory and finished goods inventory. Raw and In Process Inventory, ending balance Finished Goods Inventory, ending balance