The amount of direct materials and conversion costs to be backflushed to finished goods are: (1 Point) The Emmanuel Manufacturing Company uses a Raw and In Process (RIP) inventory account. At the end of each month, all inventories are counted, their conversion costs components are estimated, and inventory account balances are adjusted accordingly. Raw materials cost is backflushed from RIP account to Finished Goods account. The following data is for the month of August: Beginning balance of RIP account Conversion costs incurred Raw materials purchased Conversion costs allocated Ending balance of RIP account P 38,700 4,800 680,000 5,300 41,900 P676,800 and P4,800 respectively P680,000 and P5,300 respectively P680,000 and P4,800 respectively P676,800 and P5,300 respectively