Maxwell Dash Inc. manufactures and assembles automobile instrument panels for both eCar Motors and Greenville Motors. The process consists of a lean product cell for each customer's instrument assembly. The data that follow concern only the eCar lean cell. For the year, Maxwell Dash Inc. budgeted the following costs for the eCar production cell: Conversion Cost Categories Labor Supplies Utilities Total Budget $800,000 475,000 325,000 $1,600,000 Maxwell Dash Inc. plans 2,000 hours of production for the eCar cell for the year. The materials cost is $250 per instrument assembly. Each assembly requires 24 minutes of cell assembly time. There was no April 1 inventory for either Raw and In Process Inventory or Finished Goods Inventory. The following summary events took place in the eCar cell during April: a. Electronic parts and wiring were purchased to produce 470 instrument assemblies in April. b. Conversion costs were applied for the production of 420 units in April. c. During April, 400 units were started, completed, and transferred to finished goods. d. Of the 400 units completed, 370 were shipped to customers at a price of $800 per unit. Required: 1. Determine the budgeted cell conversion cost per hour. per hour 2. Determine the budgeted cell conversion cost per unit. per unit 3. Journalize the summary transactions (a) through (d). If an amount box does not require an entry, leave it blank. a. Raw and In Process Inventory Accounts Payable b. Raw and In Process Inventory Conversion Costs C. Finished Goods Inventory Raw and In Process Inventory d. Sale Accounts Receivable Sales d. Cost Cost of Goods Sold Finished Goods Inventory 4. Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory. Raw and In Process Inventory: Finished Goods Inventory: $ 5. Lean accounting is different from traditional accounting because it is more simplified transactions are reduced and uses minimal control. As a result, the number of i Direct labor are used to In many lean operations, purchased materials are charged to a "raw and in process inventory account Often, nonfinancial performance measures, such as lead time or quality measures is included as a conversion cost of the cell monitor performance.