Power 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: Line Item Description Amount Labor $67,160 Depreciation 9,010 Supplies 3,280 Power 2,450 Total cell costs for the period $81,900 The operating plan calls for 175 operating hours for the period. Each speaker requires 10 minutes of cell process time. The unit selling price for each speaker is $271. During the period, the following transactions occurred: Purchased materials to produce 670 speaker units. Applied conversion costs to production of 635 speaker units. Completed and transferred 610 speaker units to finished goods. Sold 585 speaker units. There were no inventories at the beginning of the period. Question Content Area a. Journalize the summary transactions (1)-(4) for the period. Round the per unit cost to the nearest cent and use in subsequent computations. If an amount box does not require an entry, leave it blank. Transaction Account Debit Credit 1. 2. 3. 4. Sale 4. Cost Feedback Area Feedback Question Content Area b. Determine the ending balance of raw and in process inventory and finished goods inventory.Raw and In Process Inventory, ending balance fill in the blank 1 of 2$Finished Goods Inventory, ending balance fill in the blank 2 of 2$

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter10: Short-term Decision Making

Section: Chapter Questions

Problem 7PB: Remarkable Enterprises requires four units of part A for every unit of Al that it produces....

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Line Item Description	Amount
Labor	$67,160
Depreciation	9,010
Supplies	3,280
Power	2,450
Total cell costs for the period	$81,900

Question Content Area

a. Journalize the summary transactions (1)-(4) for the period. Round the per unit cost to the nearest cent and use in subsequent computations. If an amount box does not require an entry, leave it blank.

Transaction	Account	Debit	Credit
1.

2.

3.

4. Sale

4. Cost

Feedback Area

Feedback

Question Content Area

b. Determine the ending balance of raw and in process inventory and finished goods inventory.

Raw and In Process Inventory, ending balance fill in the blank 1 of 2$
Finished Goods Inventory, ending balance fill in the blank 2 of 2$

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