Maxwell Dash 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, Maxwell Dash Inc. budgeted the following costs for the eCar production cell: Conversion Cost Categories Budget Labor $800,000 Supplies 475,000 Utilities 325,000 Total $1,600,000 Maxwell Dash Inc. plans 2,000 hours of production for the eCar cell for the year. The materials cost is $250 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 470 instrument assemblies in April.b. Conversion costs were applied for the production of 420 units in April.c. During April, 400 units were started, completed, and transferred to finished goods.d. Of the 400 units completed, 370 were shipped to customers at a price of $800 per unit. Required: Question Content Area 1. Determine the budgeted cell conversion cost per hour.fill in the blank 1 of 1$ per hour 2. Determine the budgeted cell conversion cost per unit.fill in the blank 1 of 1$ per unit Feedback Area Feedback Question Content Area 3. Journalize the summary transactions (a) through (d). If an amount box does not require an entry, leave it blank. Transaction Account Debit Credit a. b. c. d. Sale d. Cost Feedback Area Feedback Question Content Area 4. Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory.Raw and In Process Inventory: fill in the blank 1 of 2$Finished Goods Inventory: fill in the blank 2 of 2$
Maxwell Dash 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, Maxwell Dash Inc. budgeted the following costs for the eCar production cell:
Conversion Cost Categories | Budget |
---|---|
Labor | $800,000 |
Supplies | 475,000 |
Utilities | 325,000 |
Total | $1,600,000 |
Maxwell Dash Inc. plans 2,000 hours of production for the eCar cell for the year. The materials cost is $250 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 470 instrument assemblies in April.
b. Conversion costs were applied for the production of 420 units in April.
c. During April, 400 units were started, completed, and transferred to finished goods.
d. Of the 400 units completed, 370 were shipped to customers at a price of $800 per unit.
Required:
Question Content Area
1. Determine the budgeted cell conversion cost per hour.
fill in the blank 1 of 1$ per hour
2. Determine the budgeted cell conversion cost per unit.
fill in the blank 1 of 1$ per unit
Feedback Area
Question Content Area
3. Journalize the summary transactions (a) through (d). If an amount box does not require an entry, leave it blank.
Transaction | Account | Debit | Credit |
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d. Sale |
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d. Cost |
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Feedback Area
Question Content Area
4. Determine the ending balance in Raw and In Process Inventory and Finished Goods Inventory.
Raw and In Process Inventory: fill in the blank 1 of 2$
Finished Goods Inventory: fill in the blank 2 of 2$
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