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Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $ 2 9 . The budgeted

Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $29. The budgeted conversion cost for the year is $182,400 for 3,200 production hours. A unit of Style Omega requires 12 minutes of cell production time. The following transactions took place during June:
Materials were acquired to assemble 860 Style Omega units for June.
Conversion costs were applied to 860 Style Omega units of production.
800 units of Style Omega were completed in June.
750 units of Style Omega were sold in June for $80 per unit.
Question Content Area
a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest cent.
fill in the blank 1 of 1$
57
per hour
b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest cent.
fill in the blank 1 of 1$
11.40
per unit
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Question Content Area
c. Journalize the summary transactions (1)(4) for June. If required, round your answers to one decimal place. If an amount box does not require an entry, leave it blank.
TransactionAccountDebitCredit
1.
Raw and In Process Inventory
24,940
Accounts Payable
24,940
2.
Raw and In Process Inventory
9,804
Conversion Costs
9,804
3.
Finished Goods Inventory
32,320
Raw and In Process Inventory
32,320
4. Sale
Accounts Receivable
60,000
Sales
60,000
4. Cost
Cost of Goods Sold
Finished Goods Inventory

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