Lancer, Inc. produces universal remote controls. Lancer uses a JIT costing system. One of the company's products has a standard direct materials cost of $9 per unit and a standard conversion cost of $33 per unit. During January 2018, Lancer produced 625 units and sold 620 units on account at $49 each. It purchased S6,800 of direct materials on account and incurred actual conversion costs totaling $17,500 Read the requirements. Journalize the purchase of raw materials. Date Accounts Debit Credit Jan. 2018 Raw and In-Process Inven 6,800 Accounts Payable 6,800 Journalize the actual conversion costs incurred Date Accounts Debit Credit Jan. 2018 Conversion Costs 17,500 Wages Payable, Accumulated Depreciation, etoc. 17,500 Jou malize the completed production. Date Accounts Debit Credit Jan. 2018 Finished Goods Inventory 26,250 Raw and In-Process Inventory 5,625 Conversion Costs 20,625