Lean Accounting Vintage Audio Inc. manufactures audio speakers. Each speaker requires $119 per unit of direct materials. The speaker manufacturing asse mbly cell incdudes the following estimated costs for the period: Speaker assembly cell, estimated costs: Labor $57,960 Depreciation 7,770 Supplies 2,830 Power 2,120 Total cell costs for the period $70,680 The operating plan calls for 190 operating hours for the period. Each speaker requires 15 minutes of cell process time. The unit selling price for each speaker is $322. During the period, the following transactions occurred: 1. Purchased materials to produce 395 speaker units. 2. Applied conversion costs to production of 375 speaker units. 3. Completed and transferred 360 speaker units to finished goods. 4. Sold 345 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. Raw Materials 1. Raw and In Process Inventory Next Check My Work 5 more Check My Work uses remaining 5:58 PM Raw Materials 1. Raw and In Process Inventory 2. 3. 4. Sale 4. Cost 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 Ne Check My Work 5 more Check My Work uses remaining ems 5:58