$21-$ Three alternatives of backlash costing: Babylon Industries recorded the following transactions for May $2020$ of operations:

$\backslash$table$[[1,\backslash$table$[[$Materials inventory control$],[$Accounts payable$],[$To record purchase of direct material$]],24,000,24,000],[2,\backslash$table$[[$Conversion costs control$],[$Various accounts$],[$To record incurrence of conversion costs$]],40,000,40,000],[3,\backslash$table$[[$Work in process inventory control$],[$Materials inventory control$],[$Conversion costs control$],[$To assign material and conversion costs to$],[$production$]],64,000,24,000],[4,\backslash$table$[[$Finished goods inventory control$],[$Work in process inventory control$],[$To record completion of products$]],64,000,64,000],[6,\backslash$table$[[$Cost of goods sold$],[$Finished goods inventory control$],[$To record cost of goods sold$]],62,000,62,000],[7,\backslash$table$[[$Accounts Receivable$],[$Sales$],[$To record sale of products$]],116,000,116,000]]$

Required: Prepare the journal entries using the three alternatives of backflush costing.