Corporation assembles handheld computers that have$$ scaled$-$down capabilities of laptop computers. Each handheld computer takes $6$ hours to assemble. TechWorks uses a JIT production system and a backflush costing system with three trigger points. There are no beginning inventories of materials or finished goods. The following data are for$$ August:Direct materials purchased

$$2,836,000$

Direct materials used

$$2,725,000$

Conversion costs incurred

$$722,900$

Conversion costs allocated

$$700,000$

TechWorks records direct materials purchased and conversion costs incurred at actual costs. When finished goods are$$ sold, the backflush costing system$$ "pulls through" the standard direct material cost $($$ $109$ per$$ unit$)$ and standard conversion cost $($$ $28$ per$$ unit$).$ TechWorks produced $25$ comma $000$ finished units in August and sold $23$ comma $700$ units. The actual direct material cost per unit in August was $ $109,$ and the actual conversion cost per unit was $ $29$ Required

Prepare summary journal entries for August in the order they occur$($without disposing of$$ under$-$ or overallocated conversion$$ costs$).$

Post the entries in requirement $1$ to$$ T$-$accounts for applicable$$ Inventory: Materials and$$ In$-$Process Control, Finished Goods$$ Control, Conversion Costs$$ Control, Conversion Costs$$ Allocated, and Cost of Goods Sold.

Under an ideal JIT production$$ system, how would the amounts in your journal entries differ from those in requirement$1?$ Requirement $1.$ Prepare summary journal entries for August in the order they occur$($without disposing of$$ under$-$ or overallocated conversion$$ costs$).$

Begin with the purchase of direct materials. $($Record debits$$ first, then credits. Explanations are not$$ required.$)$

Accounts

Debit

Credit

JE $1$

First row account label input

First row debit number input

First row credit number input

Second row account label input

Second row debit number input

Second row credit number input

Third row account label input

Third row debit number input

Third row credit number input

Fourth row account label input

Fourth row debit number input

Fourth row credit number input