Lean Accounting The annual budgeted conversion costs for a lean cell are $94,500 for 3,000 production hours. Each unit produced by the cell requires 20 minutes of cell process time. During the month, 1,400 units are manufactured in the cell. The estimated materials cost is $45 per unit. Provide the following journal entries: a. Materials are purchased to produce 1,470 units. b. Conversion costs are applied to 1,400 units of production. c. 1,330 units are completed and placed into finished goods. a. Raw and In Process Inventory Y Accounts Payable b. Raw and In Process Inventory Conversion Costs Finished Geods Inventor Raw and In Process Inventory c. Finished Goods Inventory