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 three trigger points for making entries in the accounting system.

August standard cost per meter is direct materials, $23, and conversion cost, $17.

Rippel has no direct materials variances. The following data apply to August manufacturing:

Direct materials purchased	$535,000		Number of finished units manufactured	18,000
Conversion costs incurred	$420,000		Number of finished units sold	16,000

1.	Prepare summary journal entries for August (without disposing of under- or overallocated conversion costs).
2.	Post the entries in requirement 1 to T-accounts for Materials and In-Process Inventory Control, Finished Goods Control, Conversion Costs Control, Conversion Costs Allocated, and Cost of Goods Sold.