Happy Inc manufactures children's toy. For January there were no beginning inventories of direct materials, and no beginning or ending work-in-process. Conversion costs and direct materials are the only manufacturing cost accounts. Journal entries are recorded at three trigger points using backush costing: purchase of direct materials, completion of nished goods, and sale of product. Since February is the rst month of the scal year, all actual costs are as budgeted. Additional information for the month is as follows: Februam Standard materials cost per unit $6.00 Standard conversion cost per unit $4.00 Units produced 200,000 Units sold 190,000 Required: 0 Record all journal entries for the monthly activities related to the above transactions based on backush costing. (10 marks) . Indicate the account balance after preparing the journal entries