Lean Accounting Com-tel inic manufactures and assembles two models of smartphones--the Tiger Model and the Lion Model. The process consists of a non cell for each product. The data that follow concern only the Lon Model Sean cell. For the year, Com-Tel Inc budgeted these costs for the Lion Model production cell: Conversion Cost Categories Budget Labor $130,700 Supplies 49,500 Utilities 17,800 Total $199,000 Com-Tal plans 2,200 hours of production for the Lon Model coll for the year. The materials cost in $77 per unit. Each assembly requires 15 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 coll during Mays 1. Electronic parts were purchased to produce 7,500 Lion Model assemblies in May. b. Conversion costs were applied for 7,150 units of production in May, c. 7,010 units were completed and transferred to finished goods in May. d. 6,800 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, per unit If required, round your answers to the nearest cent Required: 1. Determine the budgeted cell convention cost per hour. per hour 2. Determine the budgeted cell conversion cost per unit per unit 3. Journalize the summary tramitacions (a) through (d). If an amount box does not require an entry, fewe it blank 4. Sale 4. Cost 4. Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory Raw and In Process Inventory 2. Determine the budgeted cell conversion cost per unit per unit 3. Journalize the summary transactions (a) through (a). If an amount box does not require an entry, leave it blank 4. Sale 4. Cost 4. Determine the ending balance in Raw and In Process Inventory and finished Goods Teventory Raw and In Process Inventory Finished Goods Inventory 5. Lean accounting is different from traditional accounting because it is more vanduses control: As a result the number of transactions are In many loan operations, purchased materials are charged to a Direct labore Often, nonfinancial performance measures, such as are used to monitor performance Previous Next)