Lean Accounting Vintage Audio Inc. manufactures audio speakers. Each speaker requires $96 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period: Speaker assembly cell, estimated costs: Labor $35,060 Depreciation Supplies Power Total cell costs for the period 4,700 1,710 1,280 $42,750 The operating plan calls for 190 operating hours for the period. Each speaker requires 20 minutes of cell process time. The unit selling price for each speaker is $260. During the period, the following transactions occurred: 1. Purchased materials to produce 700 speaker units. 2. Applied conversion costs to production of 665 speaker units. 3. Completed and transferred 635 speaker units to finished goods. 4. Sold 610 speaker units. There were no inventories at the beginning of the period. a. Journalize the summary transactions (1)-(4) for the period. Do not round interim calculations. 1. Raw and In Process Inventory Accounts Payable 2. 3. 4. Sale Raw and In Process Inventory Conversion Costs 4. Cost 67,200 67,200