Backflush, two trigger points, production completion and sale (continuation of20-37).

Assume the same facts as in Problem 20-37 except now there are only two trigger points, the completion of good finished units of product and the sale offinished goods.

Required 1. Prepare summary journal entries for August, including the disposition ofunder- or overallo¬

cated conversion costs. Assume no direct materials variances.

2. Post the entries in requirement 1 to T-accounts for applicable Inventory Control, Conversion Costs Control, Conversion Costs Allocated, and Cost of Goods fiold.