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Question Help O Luther, Inc. produce universal ramche controls Luther & AJITsing system. One of the company's products has a standard direct material creators par unt and standard conversion cost of $31 parunt. During January 2018 Luther produced 550 units and sold 545 unts on an At $48 each Mpurch seed 58.700 of direct materials on account and incurred actual comersion coet totaling $17.000 Read the recurement. Requirement 1. Prepare the guiriery journal entries for January. (Record debits first, then credita. Exclude explanations from journal entries.) Journalize the purchase of raw materials. Date Accounts Debit Credit Rocuirements Jan. 2018 IL 1. Prepare summary oumal cntries for January 2. The January 1, 2018. balance of the Row and In-Preces Ierlory account w9s 380. Use a T-scurt to find the January 31 balance. 3. Use a T-account to dctermine whether conversion coats are averallocated or Journalize the actual conversion costs incurred. under located for the month. By how much? Preaare the journal entry to at the Conversion Corts axount Date Accounts Debit Credit Jan 2018 Print Done Journalize the completed production. Date Accounts Debit Credit Jan. 2018 Journalize the sales on ascount. Do not record the costs related to the February sales. We wil do this in the following step. Date Accounts Debit Credit Jan, 2018 Journalize the cost of als Date Accounts Debit Credit Jan. 2018 Requirement 2. Tha Janukry 1, 2018, balance of the Raw And In-Framed Inventory Account w $00. LSR AT-ansur to And the January 31 balance Enter the beginning balance "Bal" on the first line of the T-account. Use the appropriate posting references to post the January transactions for the month, and then calculate and enter the ercing balance "Bal." of the Taccount. Raw and in Process Inventory IN Il II II Requirement 3. Use a Toccount to determine whether conversion cools are relocated or underlocaled for the month. By how much? Prepare the undertrylo sdjust the Conversion Coals scopuril. Use the appropriane posting references to post the January transations for the manth, and then calcuinte and coberthe ending halance 'Bact the T-account Conversion Costs II II II Conversion coels are Prepare the journal entry to adjust the Cornersion Coats assunt. Record Cebit first, then credits Exclude explanations from joumaleries Date Accounts Debit Credit Jan. 2018 Charee from any list or enter any number in the input talk and then continun to the naxt