Grand Prix Displays Inc. manufactures and assembles automobile instrument panels for both Yokohama Motors and Detroit Motors. The process

A sequence of activities linked together for performing a particular task.

consists of a lean product cell for each customers instrument assembly. The data that follow concern only the Yokohama lean cell.

For the year, Grand Prix Displays Inc. budgeted the following costs for the Yokohama production cell:

Question not attempted.

1	Conversion Cost Categories	Budget
2	Labor	$758,000.00
3	Supplies	45,000.00
4	Utilities	29,000.00
5	Total	$832,000.00

Grand Prix Displays Inc. plans 2,600 hours of production for the Yokohama cell for the year. The materials cost is $150 per instrument assembly. Each assembly requires 15 minutes of cell assembly time. There was no November 1 inventory for either Raw and In Process Inventory

The capitalized cost of direct materials purchases, labor, and overhead charged to the production cell.

or Finished Goods Inventory.

The following summary events took place in the Yokohama cell during November:

Nov.	4	Electronic parts and wiring were purchased to produce 8,800 instrument assemblies in November.
	6	Conversion costs were applied for the production of 8,600 units in November.
	24	8,400 units were started, completed, and transferred to finished goods in November.
	29	8,340 units were shipped to customers at a price of $420 per unit.

	Required:
1.	Determine the budgeted cell conversion cost The combination of direct labor and factory overhead costs. per hour.
2.	Determine the budgeted cell conversion cost per unit. Round your answer to the nearest whole dollar.
3.	Journalize the summary transactions for November. Refer to the Chart of Accounts for exact wording of account titles.
4.	Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory.
5.	How does the accounting in a lean environment differ from traditional accounting?