The Tardy Company has a factory that manufactures doors. The company uses a just-in-time production system and a backflush costing system with recording at: - Purchase of raw materials and components (based on a two year contract) - Sale of good finished units of product There are no beginning inventories. The following data refers to the month of March in which 108,000 doors were produced: (in thousands) Raw material purchased....... 4,400 Raw materials used for sold units)........... 4,250 Conversion costs incurred....... 2,110 Costs of goods sold (100,000 units)... 5,950 REQUIRED: 1. Prepare journal entries for the month of March. Any under or over allocated amounts are considered significant 2. Briefly describe the weaknesses of the backflush costing approach. (2) The Tardy Company has a factory that manufactures doors. The company uses a just-in-time production system and a backflush costing system with recording at: - Purchase of raw materials and components (based on a two year contract) - Sale of good finished units of product There are no beginning inventories. The following data refers to the month of March in which 108,000 doors were produced: (in thousands) Raw material purchased....... 4,400 Raw materials used for sold units)........... 4,250 Conversion costs incurred....... 2,110 Costs of goods sold (100,000 units)... 5,950 REQUIRED: 1. Prepare journal entries for the month of March. Any under or over allocated amounts are considered significant 2. Briefly describe the weaknesses of the backflush costing approach. (2)