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 $99,800 Supplies 37,800 Utilities 13,600 Total $151,200 Com Tel plans 2,800 hours of production for the Lion Model cell for the year The materials cost is $46 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 9,500 Lion Model assemblies in May Conversion costs were applied for 9,050 units of production in May 8,870 units were completed and transferred to finished goods in May 8,600 units were shipped to customers at a price of $216 per unit If required, round your answers to the nearest cent Required 1 Determine the budgeted cell conversion cost per hour $ per hour 2 Determine the budgeted cell conversion cost per unit $ per unit 3 Journalize the summary transactions (a) through (d) If an amount box does not require an entry, leave it blank a b 3 4 Sale 4 Cost 4 Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory Raw and In Process Inventory $ Finished Goods Inventory $ 5 Lean accounting is different from traditional accounting because it is more and uses control As a result, the number of transactions are In many lean operations, purchased materials are charged to a Direct labor is Often, nonfinancial performance measures, such as , are used to monitor performance

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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.

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 $99,800

Supplies 37,800

Utilities 13,600

Total $151,200

Com-Tel plans 2,800 hours of production for the Lion Model cell for the year. The materials cost is $46 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:
1. Electronic parts were purchased to produce 9,500 Lion Model assemblies in May.
2. Conversion costs were applied for 9,050 units of production in May.
3. 8,870 units were completed and transferred to finished goods in May.
4. 8,600 units were shipped to customers at a price of $216 per unit.
If required, round your answers to the nearest cent.
Required:

1. Determine the budgeted cell conversion cost per hour. $ per hour

2. Determine the budgeted cell conversion cost per unit. $ per unit

3. Journalize the summary transactions (a) through (d). If an amount box does not require an entry, leave it blank.

a.

b.

3.

4. Sale

4. Cost

4. Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory.

Raw and In Process Inventory $

Finished Goods Inventory $

5. Lean accounting is different from traditional accounting because it is more and uses control. As a result, the number of transactions are . In many lean operations, purchased materials are charged to a . Direct labor is . Often, nonfinancial performance measures, such as , are used to monitor performance.