1. Lean Accounting

   Vintage Audio Inc. manufactures audio speakers. Each speaker requires $127 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period:

   Speaker assembly cell, estimated costs:
   Labor	$94,980
   Depreciation	12,740
   Supplies	4,630
   Power	3,480
   Total cell costs for the period	$115,830

   The operating plan calls for 195 operating hours for the period. Each speaker requires 10 minutes of cell A sequence of activities linked together for performing a particular task.process time. The unit selling price for each speaker is $344. During the period, the following transactions occurred:

   1. Purchased materials to produce 590 speaker units.
   2. Applied conversion costs to production of 560 speaker units.
   3. Completed and transferred 535 speaker units to finished goods.
   4. Sold 515 speaker units.

   There were no inventories at the beginning of the period.

   a. Journalize the summary transactions (1)-(4) for the period. Round the per unit cost to the nearest cent and use in subsequent computations. If an amount box does not require an entry, leave it blank.

   1.	Raw and In Process Inventory
   	Accounts Payable
   2.	Raw and In Process Inventory
   	Conversion Costs
   3.	Finished Goods Inventory
   	Raw and In Process Inventory
   4. Sale	Accounts Receivable
   	Sales
   4. Cost	Cost of Goods Sold
   	Finished Goods Inventory

   b. Determine the ending balance of raw and in process inventory and finished goods inventory.

   Raw and In Process Inventory, ending balance	$
   Finished Goods Inventory, ending balance	$