The Bright Lamp Company Has Budgeted Its Conversion Cost for the Small

Essay

The Bright Lamp Company has budgeted its conversion cost for the small lamp production as $85,000 for 1,300 production hours.Each unit produced by the cell requires 15 minutes of process time.During the month,3,800 units are manufactured in the cell.The estimated material cost is $18 per unit.Provide the following journal entries.
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(a)Materials are purchased to produce 4,000 units.
(b)Conversion costs are applied to 3,800 units of production.(Please round to nearest cent.)
(c)3,650 units are placed into finished goods.