Question

Dashboard Inc. manufactures and assembles automobile instrument panels for both eCar Motors and Greenville Motors. The process consists of a lean product cell for each customer’s instrument assembly. The data that follow concern only the eCar lean cell.

For the year, Dashboard Inc. budgeted the following costs for the eCar production cell:

Conversion Cost Categories		Budget
Labor		$800,000
Supplies		275,000
Utilities		325,000
Total		$1,400,000

Dashboard Inc. plans 2,000 hours of production for the eCar cell for the year. The materials cost is $240 per instrument assembly. Each assembly requires 24 minutes of cell assembly time. There was no April 1 inventory for either Raw and In Process Inventory or Finished Goods Inventory.

The following summary events took place in the eCar cell during April:

a. Electronic parts and wiring were purchased to produce 450 instrument assemblies in April.
b. Conversion costs were applied for the production of 400 units in April.
c. 380 units were started, completed, and transferred to finished goods in April.
d. 350 units were shipped to customers at a price of $800 per unit.

Required:

1. Determine the budgeted cell conversion cost per hour.
$ per hour

2. Determine the budgeted cell conversion cost per unit.
$ per unit

3. Journalize the summary transactions (a) through (d). If an amount box does not require an entry, leave it blank.

a.
b.
c.
d. Sale
d. Cost

4. Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory.

Raw and In Process Inventory:	$
Finished Goods Inventory:	$

Answer 1

1
Budgeted cell conversion cost per hour	700	per hour	=1400000/2000
2
Budgeted cell conversion cost per unit	280	per unit	=700*(24/60)
3
Raw and in process inventory	108000		=450*240
Accounts Payable		108000
Raw and in process inventory	126000		=450*280
Conversion costs		126000
Finished goods inventory	197600		=380*(240+280)
Raw and in process inventory		197600
Accounts Receivable	280000		=350*800
Sales		280000
Cost of goods sold	182000		=350*(240+280)
Finished goods inventory		182000
4
Raw and In Process Inventory:	36400		=108000+126000-197600
Finished Goods Inventory:	15600		=197600-182000

Answer 2

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