The balances of Raw and in process and Cost of goods sold accounts at the end of June are: (1 Point) * The Emmanuel Shop Company produces telephones. For June, there were no beginning inventory of raw materials and no beginning and ending work in process. The Emmanuel Shop uses a JIT manufacturing system and backflush costing with two trigger points for making entries in its accounting system: -Purchase of raw materials - Sales of finished goods Emmanuel Shop's standard cost per unit of telephone in June are direct materials, P26 and conversion costs, P 15. The following data apply to June production: Raw materials purchased Conversion cost incurred Number of finished units manufactured Number of finished units sold P5,300,000 3,080,000 200,000 192,000 P308,000 and P7,872,000 respectively P5,300,000 and P7,872,000 respectively P4,992,000 and P2,880,000 respectively P308,000 and P4,992,000 respectively