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Tatum Company has adopted a JIT management system and has the following transortions in Augisst. (1) (Cick the icon to vicw the transactions) 10. Record the joumal ontries for Tatum Comparny for August. 11. Pest appropriate entries to the Corversion Costs T-account to determine the amount of underalocated of overallocated overtiead. Record the adfusting entry. 10. Recotd the joumal entries for Talum Company for August. (Record debits first thon credts. Exclude explanafons from joumul entios) Jounaltre the purchase of taw materials. More info a. Purchased raw materials on account $55,000 b. Incurred labor and overhead costs, $50,000 c. Complefed 400 units with standard costs of $110 for direct materiats and $190 for comversion costs: d. Sold on account 375 units for $550 each