Optic Matrix Inc. manufactures and assembles automobile

Optic Matrix Inc. manufactures and assembles automobile instrument panels for both Yokohama Motors and Detroit Motors. The process consists of a just-in-time product cell for each customer’s instrument assembly. The data that follow concern only the Yokohama just-in-time cell.

For the year, Optic Matrix Inc. budgeted the following costs for the Yokohama production cell:

Optic Matrix Inc. plans 3,000 hours of production for the Yokohama cell for the year. The materials cost is $77 per instrument assembly. Each assembly requires 15 minutes of cell assembly time. There was no November 1 inventory for either Raw and In-Process Inventory or Finished Goods Inventory.

The following summary events took place in the Yokohama cell during November:

a. Electronic parts and wiring were purchased to produce 8,200 instrument assemblies in November.

b. Conversion costs were applied for the production of 8,000 units in November.

c. 7,850 units were started, completed, and transferred to finished goods in November.

d. 7,750 units were shipped to customers at a price of $400 per unit.


1. Determine the budgeted cell conversion cost per hour.

2. Determine the budgeted cell conversion cost per unit.

3. Journalize the summary transactions (a) through (d).

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

5. How does accounting in a JIT environment differ from traditional accounting?

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