Chart of Accounts bfed conve ASSETS REVENUE June 110 Cash 410 Sales 120 Accounts Recevable 125 Notes Receivable EXPENSES 140 Office Supplies 510 Cost of Goods Sold 141 Store Supplies 511 Conversion Costs 142 Prepaid Insurance 521 Advertising Expense 523 Depreciation Expense-Equipment 150 Raw and In Process Inventory 151 Finished Goods Inventory 526 Salaries Expense 180 Land 531 Rent Expense 190 Equipment 533 Insurance Expense 191 Accumulated Depreciation-Equipment 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense LIABILITIES 210 Accounts Payable 539 Miscellaneous Expense 710 Interest Expense 216 Salaries Payable 218 Sales Tax Payable 219 Customers Refunds Payable 221 No.es Payable 191 Accumulated Depreciation Equipment 534 Store Supplies Expense 535 Office Supplies Expense LIABILITIES 536 Credit Card Expense 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 539 Miscellaneous Expense 710 Interest Expense 219 Customers Refunds Payable 221 Notes Payable EQUITY 31 Common Stock 32 Retained Earings 33 Dividends 34 income Summary Check by Worte All work saved nart of Accounts Starting Questions a. Determine the budgeted cell conversion cost per hour. $ per hour b. Determine the budgeted cell conversion cost per unit. $ per unit 31. Common Stock Accounts X) rting Questions Joumal PAGE 10 JOURNAL DATE DESCRIPTION POST. REF DEBIT CREDIT OM 110 Modern Lighting Inc. manufactures lighting fotures, using lean manufacturing methods. Stylo Omoga has a materials cost per unit of $145. The budgeted conversion cost for the year is $205,000 for 2,050 production hours. A unit of Style Omega requires 15 minutes of cell production time. The following transactions took place during June: 1. Materials were acquired to assemble 900 Style Omega units for June. 2. Conversion costs were applied to 900 Stylo Omega units of production. 3. 885 units of Style Omega were completed in June. 4. 860 units of Style Omega were sold in June for $200 per unit. Required: a. Determine the budgeted cell conversion cost per hour. b. Determine the budgeted coll conversion cost per unit. c. Journalize the summary transactions (1)-(4) for June. Refer to the Chart of Accounts for exact wording of account titles