Com-Tel Inc. manufactures and assembles two models of smartphonesthe Tiger Model and the Lion Model. The process consists of a lean cell for each product. The data that follow concern only the Lion Model lean cell. For the year, Com-Tel Inc. budgeted these costs for the Lion Model production cell: Conversion Cost Categories Budget Labor $95,000 Supplies 36,000 Utilities 13,000 Total $144,000 Com-Tel plans 1,600 hours of production for the Lion Model cell for the year. The materials cost is $77 per unit. Each assembly requires 18 minutes of cell assembly time. There was no May 1 inventory for either Raw and In Process Inventory or Finished Goods Inventory. The following summary events took place in the Lion Model cell during May: Electronic parts were purchased to produce 5,450 Lion Model assemblies in May. Conversion costs were applied for 5,200 units of production in May. 5,100 units were completed and transferred to finished goods in May. 4,950 units were shipped to customers at a price of $360 per unit. If required, round your answers to the nearest cent. Required: Question Content Area 1. Determine the budgeted cell conversion cost per hour. $fill in the blank 6c03ad000f7f011_1 per hour 2. Determine the budgeted cell conversion cost per unit. $fill in the blank 6c03ad000f7f011_2 per unit Feedback Area Feedback 1. Cell Conversion Cost Rate = Budgeted Conversion Cost Planned Hours of Production 2. Conversion Cost for Smartphone = Manufacturing Time Cell Conversion Cost Rate Question Content Area 3. Journalize the summary transactions (a) through (d). If an amount box does not require an entry, leave it blank. a. - Select - - Select - - Select - - Select - b. - Select - - Select - - Select - - Select - 3. - Select - - Select - - Select - - Select - 4. Sale - Select - - Select - - Select - - Select - 4. Cost - Select - - Select - - Select - - Select - Feedback Area Feedback 3. In lean manufacturing, there are fewer transactions to record, thus simplifying the accounting system. Some accounts are combined. For example, all in-process work is combined with raw materials to form a new account, Raw and In Process (RIP) Inventory and direct labor is also combined with other costs to form a new account titled Conversion Costs. Indirect labor is directly assigned to product cells; thus, less factory overhead is allocated to products. The cell conversion rate is similar to a predetermined factory overhead rate, except that it includes all conversion costs in the numerator. Question Content Area 4. Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory. Raw and In Process Inventory $fill in the blank 2b4597fbbfd8025_1 Finished Goods Inventory $fill in the blank 2b4597fbbfd8025_2