Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Modern Lighting Inc, manufactures lighting fixtures, using. lean manufacturing methods. Style Omega has a materials cost per unit of $19. The budgeted conversion cost for

image text in transcribed
image text in transcribed
Modern Lighting Inc, manufactures lighting fixtures, using. lean manufacturing methods. Style Omega has a materials cost per unit of $19. The budgeted conversion cost for the year is $119,700 for 1,900 production hours. A unit of Style Omega requires 12 minutes of cell production time. The following transactions took place during June: 1. Materials were acquired to assemble 730 Style Omega units for June. 2. Conversion costs were applied to 730 Style Omega units of production. 3. 680 units of Style Omega were completed in June. 4. 640 units of Style Omega were sold in June for $60 per unit. a. Determine the budgeted cell conversion cost per hour. If required, round to the nearest cent. per hour b. Determine the budgeted cell conversion cost per unit. If required, round to the nearest cent. per unit 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

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Concepts And Applications For Managerial Decision Making

Authors: Ralph S. Polimeni, James A. Cashin, Frank J. Fabozzi, Arthur H. Adelberg

2nd Edition

0070103100, 978-0070103108

More Books

Students also viewed these Accounting questions

Question

=+22. Energy investment decisions.

Answered: 1 week ago

Question

What is the purpose of a customized benefits plan?

Answered: 1 week ago

Question

What are topics included within employee services?

Answered: 1 week ago