Audio Master Inc manufacturers audio speakers. Each speaker requires $125 per unit direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period: Labor $52400, Depreciation $6700, Supplies $2500, power $1400 Total costs for the period $63,000. The operating plan calls for 180 operating hrs for the period. Eacg speaker requires 18 minutes of cell process time. The selling unit price for each speaker is $450. During the period the following transactions occured:
1. Purchased materials to produce 600 speaker units.
2. Applied conversion costs of production of 550 speaker units.
3. Complete and transferred 530 speaker units to finished goods.
4. Sold 500 speaker units. There were no inventories at the beginning of the period. Journalize the summary transactions 1-4 for the period?