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2 1 - Three alternatives of backlash costing: Babylon Industries recorded the following transactions for May 2 0 2 0 of operations: table [

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21- Three alternatives of backlash costing: Babylon Industries recorded the following transactions for May 2020 of operations:
\table[[1,\table[[Materials inventory control],[Accounts payable],[To record purchase of direct material]],24,000,24,000],[2,\table[[Conversion costs control],[Various accounts],[To record incurrence of conversion costs]],40,000,40,000],[3,\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,\table[[Finished goods inventory control],[Work in process inventory control],[To record completion of products]],64,000,64,000],[6,\table[[Cost of goods sold],[Finished goods inventory control],[To record cost of goods sold]],62,000,62,000],[7,\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.
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