Lean Accounting Com-Tel Inc. manufactures and assembles two models of smartphones--the 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-Teline, budgeted these costs for the Lion Model production coll: Conversion Cost Categories Budget Labor $166,300 Supplies 63,000 Utilities 22,700 Total $252,000 Com-Tel plans 2,800 hours of production for the Lion Model cell for the year. The materials cost is $77 per unit. Each assembly requires 15 minutes of cell assembly time. There was no May 1 inventory for either How and In Process Inventory or Finished Goods Inventory The following summaly events took place in the Lon Model cell during may 3. Electronic parts were purchased to produce 9,500 Lion Model assemblies in May. b. Conversion costs were applied for 9,050 units of production in May. c. 8,870 units were completed and transferred to finished goods in May. d. 8,600 units were shipped to customers at a price of $360 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 perunt 3. Joumalize the summary transactions (a) through (d). If an amount box does not require an entry, leave it blank. b 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 transactions are In many lean operations, purchased materials are charged to a Orten, nonfinancial performance measures, such as are used to monitor performance control. As a result, the number of Direct laboris