Boom Town Inc. manufactures audio speakers. Each speaker requires $130 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period: The operating plan calls for 200 operating hours for the period. Each speaker requires 20 minutes of cell process time. The unit selling price for each speaker is $425. During the period, the following transactions occurred: Purchased materials to produce 620 speaker units. Applied conversion costs to production of 600 speaker units. Completed and transferred 590 speaker units to finished goods. Sold 575 speaker units. There were no inventories at the beginning of the period. Hide Hint(s) a. Journalize the summary transactions (1)-(4) for the period. 1.

2.

3.

4. Sale

4. Cost

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

Raw and In Process Inventory, ending balance $

Finished Goods Inventory, ending balance $