Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please show work or explain calculations. Thank you. Com-Tel inc. manufactures and assembles two models of smartphones-the Tiger Model and the Lion Model. The process
please show work or explain calculations. Thank you.
Com-Tel inc. manufactures and assembles two models of smartphones-the Tiger Model and the Lion Model. The process consists of a lean cell for each product. The data that follow concern only the Lion Model lean cell. For the year, Com-Tel Inc. budgeted these costs for the Lion Model production cell: Com-Tel pians 1,600 hours of production for the Uon Model cell for the year. The materials cost is $71 per unit. Each assembly requires 18 minutes of cell assembly time. There was no May 1 inventory for either Raw and In Pracess Inyentory or Finished Goods Inventory, The following summary events took place in the Lon Model cell during May: a. Electronic parts were purehased to produce 5,450 Lion Model assemblies in May. b. Conversion costs were applied for 5,200 units of production in May. c. 5,100 units were completed and transferred to finished goods in. May. d. 4,950 units were shipped to customers at a price of $336 per unit. If required, round your answers to the nearest cent. Reguired: 1. Determine the budgeted cell conversion cost per hour. per hour 2. Determine the budgeted cell conversion cost per unit. per unit. 4. Determine the ending balance in Raw and in Process inventory and Finished Goods Inventory. 5. Lean accounting is different from traditional accounting because it is more and uses control, As a result, the number of transactions are In many lean operations, purchased materials are charged to a Direct labor is Often, nonfinancial performance measures, such as , are used to monitor performance Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started