Lean Accounting

Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $$37.$ The budgeted conversion cost for the year is $$140,400$ for $2,600$ production hours. A unit of Style Omega requires $12$ minutes of cell production time. The following transactions took place during June:

Materials were acquired to assemble $630$ Style Omega units for June.

Conversion costs were applied to $630$ Style Omega units of production.

$590$ units of Style Omega were completed in June.

$550$ units of Style Omega were sold in June for $$90$ per unit.

Question Content Area

a$.$ Determine the budgeted cell conversion cost per hour. If required, round to the nearest cent.

fill in the blank $1$ of $1$$

per hour

b$.$ Determine the budgeted cell conversion cost per unit. If required, round to the nearest cent.

fill in the blank $1$ of $1$$

per unit

Question Content Area

c$.$ Journalize the summary transactions $(1)(4)$ for June. If required, round your answers to one decimal place. If an amount box does not require an entry, leave it blank.

TransactionAccountDebitCredit

$1.$

$2.$

$3.$

$4.$ Sale

$4.$ Cost