The annual budgeted conversion costs for a lean cell are $663,000 for 1,950 production hours. Each unit produced by the cell requires 15 minutes of cell process time. During the month, 665 units are manufactured in the cell. The estimated materials costs are $160 per unit. Provide the following journal entries for March 31. Refer to the Chart of Accounts for exact wording of account titles. A. Materials are purchased to produce 700 units. B. Conversion costs are applied to 665 units of production. C. 650 units are completed and placed into finished goods.