Business, 06.06.2020 13:57 cailynrachael

Vintage Audio Inc. manufactures audio speakers. Each speaker requires $127 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period: Speaker assembly cell, estimated costs:
Labor$45,050
Depreciation6,040
Supplies2,200
Power1,655
Total cell costs for the period$54,945
The operating plan calls for 185 operating hours for the period. Each speaker requires 20 minutes of cell process time. The unit selling price for each speaker is $344. During the period, the following transactions occurred:
Purchased materials to produce 530 speaker units.
Applied conversion costs to production of 505 speaker units.
Completed and transferred 480 speaker units to finished goods.
Sold 460 speaker units.
There were no inventories at the beginning of the period.
a. Journalize the summary transactions (1)-(4) for the period. Do not round interim calculations.
1.
2.
3.
4. Sale
4. Cost
b. Determine the ending balance of raw and in process inventory and finished goods inventory.
Raw and In Process Inventory, ending balance$
Finished Goods Inventory, ending balance$

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Vintage Audio Inc. manufactures audio speakers. Each speaker requires $127 per unit of direct materi...

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