Lean Accounting The annual budgeted conversion costs for a lean cell are $180,000 for 1,000 production hours. Each unit produced by the cell requires 20 minutes of cell process time. During the month, 600 units are manufactured in the cell. The estimated materials costs are $30 per unit, (Do not round per unit cost. If required, round your answers to the nearest dollar.) Journalize the following entries for the month: a. Materials are purchased to produce 500 units. b. Conversion costs are applied to 600 units of production. c. The cell completes 450 units, which are placed into finished goods. If an amount box does not require an entry, leave it blank. a. Raw and In Process InventoryV Accounts Payable b. Raw and In Process Inventory Conversion Costs N 15,000 15,000 36,000 36,000 c. Finished Goods Inventory Raw and In Process Inventory Feedback Check My Work 1 29,430 X 29,430 X a. Increase Raw and In Process Inventory (debit) and increase Accounts Payable (credit) for per unit amount times 600 units. b. (Conversion costs Hours) x (Cell Process time + 60 minutes) = Conversion rate per unit; Rate x 1,000 units Total Conversion Costs debit to Raw and In Process Inventory and credit to Conversion Costs. c. [Materials per unit + Conversion rate per unit from Req. (b)] x 980 units Finished Goods Inventory (debit) and Raw and In Process Inventory (credit).