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Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $16. The budgeted conversion cost for
- Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $16. The budgeted conversion cost for the year is $308,000 for 2,200 production hours. A unit of Style Omega requires 18 minutes of cell pro-duction time. The following transactions took place during June:
- Materials were acquired to assemble 620 Style Omega units for June.
- Conversion costs were applied to 620 Style Omega units of production.
- 600 units of Style Omega were completed in June.
- 580 units of Style Omega were sold in June for $100 per unit.
- Determine the budgeted cell conversion cost per hour.
- Determine the budgeted cell conversion cost per unit.
c. Journalize the summary transactions (1)(4) for June.
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