a. Develop a table showing the percent of individual activity cost to the total process cost. Round percentages to the nearest whole number, if required. Omni Wholesale Company Individual activity cost to the total process cost Procurement Activities Activity Cost Percent of Total Process Cost Preparing materials request Requesting, receiving, and selecting vendor bids Preparing purchase order Preparing receiving ticket Matching M/R, R/T, and invoice Correcting reconciliation differences Preparing and delivering vendor payment Total process activity cost b. Determine the average total process cost per vendor payment, assuming 60,000 payments. Round to the nearest cent, if required. $ per vendor payment c. Prepare a table showing the improvements in the activity costs as a result of the changes proposed by management. If an amount is zero, enter a "0". Omni Wholesale Company Changes activity costs Procurement Activities Activity Cost Prior to Improvement Activity Cost After Improvement Activity Cost Savings Preparing materials request Requesting, receiving, and selecting vendor bids Preparing purchase order Preparing receiving ticket Matching M/R, R/T, and invoice Correcting reconciliation differences Preparing and delivering vendor payment Total process activity cost d. Estimate the average cost per vendor payment, assuming that the changes proposed by management are enacted for 60,000 total payments. Round to the nearest cent. per vendor payment Lean Accounting Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $18. The budgeted conversion cost for the year is $162,000 for 3,000 production hours. A unit of Style Omega requires 20 minutes of cell production time. The following transactions took place during June: 1. Materials were acquired to assemble 880 Style Omega units for June. 2. Conversion costs were applied to 880 Style Omega units of production. 3. 820 units of Style Omega were completed in June. 4. 770 units of Style Omega were sold in June for $70 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest cent. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest cent. per unit c. Journalize the summary transactions (1)-(4) for June. If required, round your answers to one decimal place. 1. Conversion Costs 4. Sale 4. Cost a. Develop a table showing the percent of individual activity cost to the total process cost. Round percentages to the nearest whole number, if required. Omni Wholesale Company Individual activity cost to the total process cost Procurement Activities Activity Cost Percent of Total Process Cost Preparing materials request Requesting, receiving, and selecting vendor bids Preparing purchase order Preparing receiving ticket Matching M/R, R/T, and invoice Correcting reconciliation differences Preparing and delivering vendor payment Total process activity cost b. Determine the average total process cost per vendor payment, assuming 60,000 payments. Round to the nearest cent, if required. $ per vendor payment c. Prepare a table showing the improvements in the activity costs as a result of the changes proposed by management. If an amount is zero, enter a "0". Omni Wholesale Company Changes activity costs Procurement Activities Activity Cost Prior to Improvement Activity Cost After Improvement Activity Cost Savings Preparing materials request Requesting, receiving, and selecting vendor bids Preparing purchase order Preparing receiving ticket Matching M/R, R/T, and invoice Correcting reconciliation differences Preparing and delivering vendor payment Total process activity cost d. Estimate the average cost per vendor payment, assuming that the changes proposed by management are enacted for 60,000 total payments. Round to the nearest cent. per vendor payment Lean Accounting Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $18. The budgeted conversion cost for the year is $162,000 for 3,000 production hours. A unit of Style Omega requires 20 minutes of cell production time. The following transactions took place during June: 1. Materials were acquired to assemble 880 Style Omega units for June. 2. Conversion costs were applied to 880 Style Omega units of production. 3. 820 units of Style Omega were completed in June. 4. 770 units of Style Omega were sold in June for $70 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest cent. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest cent. per unit c. Journalize the summary transactions (1)-(4) for June. If required, round your answers to one decimal place. 1. Conversion Costs 4. Sale 4. Cost
