Martin Lighting Inc. manufactures lighting fixtures, using just-in-time manufacturing methods. Style BB-01 has a materials...
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Martin Lighting Inc. manufactures lighting fixtures, using just-in-time manufacturing methods. Style BB-01 has a materials cost per unit of $24. The budgeted conversion cost for the year is $107,100 for 2,100 production hours. A unit of Style BB-01 requires 12 minutes of cell production time.
The following transactions took place during October:
Materials were acquired to assemble 680 Style BB-01 units for October.
Conversion costs were applied to 680 Style BB-01 units of production.
630 units of Style BB-01 were completed in October.
590 units of Style BB-01 were sold in October for $70 per unit.
a. Determine the budgeted cell conversion cost per hour. Round to the nearest cent. $ per hour
b. Determine the budgeted cell conversion cost per unit. Round to nearest cent. $ per unit
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c. Journalize the summary transactions (1)-(4) for October.
1.
2.
3.
4. Sale
4. Cost
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