Homework: Chapter 19 Homework Score: 0 of 1 pt E19-29 (similar to) 4 or5 (0 complete) > Veritek produces electronic calculators. Suppose Veritek's standard cost per calculator ls $26 for direct materials and S60 for conversion costs. Tha following data apply to August actvitles ?(Click the icon to view the data) 1. Prepare summary journal entries for August using JIT costing, including the entry to adjust the Conversion Costs account The baginning balance of Finis hed Goods Inventory was $1,400 Use a T-account ta firnd the anding balance of Finished Goods Imvantory Requirement 1. Prepare summary journal entries for August using JIT costing, inckuding the antry to adjust the Convarsion Costs account (Record dehits first, then credits Exclude explanations from journal entries) Journalze the purchase of raw materials. Date Accounts Debit Credit Aug Data Table Direct materials purchased (on account Conversion costs incurred Number af calculators producad Number af calculatars sold (on account, al $118 each S 8,000 16,000 250 calculators 245 calculalors PrintDone