Instructions Right Now Video Inc. uses a lean manufacturing strategy to manufacture DVR (digital video recorder) players. The company manufactures DVR players through a single product cell. The budgeted conversion cost for the year is $480,000 for 1,600 production hours. Each unit requires 9 minutes of cell process time. During July, 1,300 DVR players are manufactured in the cell. The materials cost per unit is $135. The following summary transactions took place during July Jul. Materials are purchased for July production 3 Conversion costs were applied to production 15 1,300 DVR players are assembled and placed in finished goods 25 1,270 DVR players are sold for $380 per unit Required A. Determine the budgeted cell conversion cost per hour B. Determine the budgeted cell conversion cost per unit. Round your answer to 1 decimal place. C. Journalize the summary transactions for July. Refer to the Chart of Accounts for exact wording of account titles Chart of Accounts CHART OF ACCOUNTS Right Now Video Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 125 Notes Receivable EXPENSES 140 Office Supplies 141 Store Supplies 510 Cost of Goods Sold 511 Conversion Costs 142 Prepaid Insurance 521 Advertising Expense 150 Raw and In Process Inventory 523 Depreciation Expense-Equipment 151 Finished Goods Inventory 180 Land 526 Salaries Expense 531 Rent Expense 190 Equipment 191 Accumulated Depreciation-Equipment 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Pavable 219 Customers Refunds Payable 221 Notes Payable EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends 34 Income Summary Starting Questions A. Determine the budgeted cell conversion cost per hour. per hour B. Determine the budgeted cell conversion cost per unit Round your answer to 1 decimal place. per unit Journal C. Journalize the summary transactions for July. Refer to the Chart of Accounts for exact wording of account titles. PAGE 10 JOURNAL RE DEBIT PO DATE DESCRIPTION CREDIT 10