For #3, the Labels are: Accounts Payable, Accounts Receivable, Conversion Costs, Cost of Goods Sold, Finished Goods Inventory, Raw and In-Process Inventory, Raw Materials, Fixed Assets, Sales, Sales Returns and Allowances.

Lean Accounting Dashboard Inc. manufactures and assembles automobile instrument panels for both eCar Motors and Greenville Motors. The process consists of a lean product cell fo each customer's instrument assembly. The data that follow concern only the eCar lean cell. For the year, Dashboard Inc. budgeted the following costs for the eCar production cell: Conversion Cost Categories Budget Labor $800,000 Supplies 275,000 Utilities 325,000 Total $1,400,000 Dashboard Inc. plans 2,000 hours of production for the eCar cell for the year. The materials cost is $240 per instrument assembly. Each assembly requires 24 minutes of cell assembly time. There was no April 1 inventory for either Raw and In Process Inventory or Finished Goods Inventory. The following summary events took place in the eCar cell during April: a. Electronic parts and wiring were purchased to produce 450 instrument assemblies in April. b. Conversion costs were applied for the production of 400 units in April. c. 380 units were started, completed, and transferred to finished goods in April. d. 350 units were shipped to customers at a price of $800 per unit. 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. I II III 00 00 00 00 00 d. Sale d. Cost 4. Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory. Raw and In Process Inventory: Finished Goods Inventory: control. As a result, the number 5. Lean accounting is different from traditional accounting because it is more and uses of transactions are In many lean operations, purchased materials are charged to a Often, nonfinancial performance measures, such as , are used to monitor performance. . Direct labor is