Lean Accounting

The annual budgeted conversion costs for a lean cell are $$234,600$ for $2,300$ production hours. Each unit produced by the cell requires $12$ minutes of cell process time. During the month, $2,370$

units are manufactured in the cell. The estimated materials costs are $$56$ per unit.

$($Round the per unit cost to the nearest cent and use in subsequent computations. If required, round your answers to the nearest dollar.$)$

Journalize the following entries for the month:

a$.$ Materials are purchased to produce $2,490$ units.

b$.$ Conversion costs are applied to $2,370$ units of production.

c$.$ The cell completes $2,250$ units, which are placed into finished goods.

If an amount box does not require an entry, leave it blank.

a$.$

Raw and In Process Inventory

${?}_{?}$

b$.$

Raw and In Process Inventory

Conversion Costs

$$

c$.$

Finished Goods Inventory

$$