Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lean accounting vintage audio inc, manufactures au

Lean Accounting Vintage Audio Inc, manufactures audio speakers. Each speaker requires $100 per unit of...

60.1K

Verified Solution

Question

Accounting

image
image
Lean Accounting Vintage Audio Inc, manufactures audio speakers. Each speaker requires $100 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period: Speaker assembly cell, estimated costs: Labor Depreciation $39,660 5,320 1,930 1,450 Supplies Power Total cell costs for the period $48,360 The operating plan calls for 155 operating hours for the period. Each speaker requires 15 minutes of cell process time. The unit selling price for each speaker is $271. During the period, the following transactions occurred: 1. Purchased materials to produce 370 speaker units. 2. Applied conversion costs to production of 350 speaker units. 3. Completed and transferred 335 speaker units to finished goods. 4. Sold 320 speaker units. There were no inventories at the beginning of the period. a. Journalize the summary transactions (1)-(4) for the period. Do not round interim calculations. 4. Sale 4. Cost b. Determine the ending balance of raw and in process inventory and finished goods inventory. Raw and In Process Inventory, ending balance Finished Goods Inventory, ending balance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Nealon Energy Corporation engages in the? acquisition, exploration,? development, and production of natural gas and oil...

Biology
1.2K views

​Is the replication strategy of Sindbis virus similar/different from poliovirus? Explain thoroughly!

Programming
1.2K views

Exercise 9 – Writing values from a list into a file Complete the function design for...

Biology
1.2K views

13. In hamsters, the CW allele produces a white-coat color phenotype. C is the wildtype...

Physics
1.2K views

In the given circuit if power rating of heater is 1000 Watt at 100 Volt...

Physics
1.2K views

Short answer questions 1 Two similarly charged pith balls are suspended from a point The...

Physics
1.2K views

2 An equilateral prism of mass m resets on a rough horizontal surface with coefficient...

Geometry
1.2K views

21 m21 m 2 m23 112 2 3 because because because

Geometry
1.2K views

Solve for x Round to the nearest tenth if necessary S 98 R X 31

Basic Math
1.2K views

Not yet answered Marked out of 1 00 If P A B P A and...

Calculus
1.2K views

What values of u and v make AWXY AQRP X Y U 5u 3 16v...

Accounting
1.2K views

Birch Company normally produces and sells 43,000 units of RG-6 each month. The selling price...