4.

Just-in-Time Journal Entries Audio Master, Inc., manufactures audio speakers. Each speaker requires $111 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 The operating plan calls for 140 operating hours for the period. Each speaker requires 12 minutes of cell process time. The unit selling price for each speaker is $301. During the period, the following transactions occurred $49,940 6,700 2,440 1,820 $60,900 1. Purchased materials to produce 535 speaker units 2. Applied conversion costs to production of 510 speaker units 3. Completed and transferred 485 speaker units to finished goods 4. Sold 465 speaker units There were no inventories at the beginning of the period