Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. instructions modern lighting inc. manufactures lig

Instructions Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a...

50.1K

Verified Solution

Question

Accounting

imageimage

Instructions Modern Lighting Inc. manufactures lighting fixtures, using lean manufacturing methods. Style Omega has a materials cost per unit of $120. The budgeted conversion cost for the year is $192,000 for 2,000 production hours. A unit of Style Omega requires 15 minutes of cell production time. The following transactions took place during June: 1. Materials were acquired to assemble 800 Style Omega units for June. 2. Conversion costs were applied to 800 Style Omega units of production. 3. 785 units of Style Omega were completed in June. 4. 770 units of Style Omega were sold in June for $174 per unit. Required: a. Determine the budgeted cell conversion cost per hour. b. Determine the budgeted cell conversion cost per unit. c. Journalize the summary transactions for June. Refer to the Chart of Accounts for exact wording of account titles

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

Q

HOW TO FIND FAULT IN UNDERGROUND CABLES NAME ALL THE DEVICES NAME ALL THE PROCESS NAME ANY DEVICE...

Electrical Engineering
Q

how do you make an engineering and true stress-strain curve given the displacement (mm) and force...

Mechanical Engineering
Q

Research Scenario: A social psychologist is studying the differences in the number of Facebook® friends between identical...

Basic Math
Q

I am working on a project for my business class to creat a non profit organization!...

General Management
Q

A bank has the following balance sheet ASSETS LIABILITIES Cash = 3 Retail Deposits (stable) = 25 Treasury Bonds (>1...

Finance
Q

Which of the following expanded on to land first?VertebratesInvertebrates

Biology
Q

Prepare a flexible budget at activity levels of 16,000 units and 20,000 units. ...

Accounting
Q

Superior Micro Products uses the weighted-average method in its process costing system. Data for the...

Accounting
Q

View Policies Show Attempt History Current Attempt in Progress Wildhorse Marine Products began the year...

Accounting
Q

These items are taken from the financial statements of Carla Vista Limited for the year...

Accounting
Q

This Comprehensive Problem is to acquaint you with the content of the 2015 financial statements...

Accounting
Q

NPV and IRR analysis of projects Thomas Company is considering two mutually exclusive projects. The...

Finance