19-38 Backflush costing. The Ronowski Company produces telephones. For June, there were no beginning inventories of raw materials and no beginning and ending work in process. Ronowski uses a JIT production system and backflush costing with three trigger points for making entries in its accounting system: Purchase of direct (raw) materials Completion of good finished units of product Sale of finished goods Ronowski's June standard cost per unit of telephone product is direct materials, $31.20; conversion costs, $18. There are three inventory accounts: Inventory: Raw Inventory: In-Process Control Finished Goods Control The following data apply to June manufacturing: LO 5 1. Conversi 3,696,000 Raw materials purchased $6,360,000 Conversion costs incurred $3,696,000 Number of finished units manufactured 200,000 Number of finished units sold 192,000 Required 1. Prepare summary journal entries for June (without disposing of under- or overallocated 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 Sold.