The Rippel Corporation manufactures electrical meters. For August, there were no beginning inventories of direct materials and no beginning or ending work in process. Rippel uses a JIT production system and backflush costing with two trigger points for making entries in the accounting system.

The inventory account is confined solely to direct materials, whether these materials are in a storeroom, in work in process, or in finished goods. No conversion costs are inventoried. They are allocated to the units sold at standard costs. Any under- or overallocated conversion costs are written off monthly to Cost of Goods Sold.

Rippel's August standard cost per meter is direct materials, $25, and conversion cost, $20. Rippel has no direct materials variances.The following data apply to August manufacturing:

Direct materials purchased	$550,000		Number of finished units manufactured	21,000
Conversion costs incurred	$440,000		Number of finished units sold	20,000

Requirements:

1.	Prepare summary journal entries for August, including the disposition of under- or overallocated conversion costs.
2.	Post the entries in requirement 1 to T-accounts for Inventory Control, Conversion Costs Control, Conversion Costs Allocated, and Cost of Goods Sold.