Total Direct Conversion Materials Costs 880,000 $ 957,400 16,000 15,600 Costs incurred during the period Equivalent units of work done in current period Cost per equivalent unit $ 55.00 $ 61.37 $ 116.37 B&B Inc. is a manufacturer of digital cameras. It has two departments: assembly and testing. In January 2018, the company incurred $880,000 on direct materials and $957,400 on conversion costs for a total manufacturing cost of $1,837,400. During February, 16,000 cameras are placed into production, but only 15,000 cameras are fully completed at the end of February. All direct materials have been added to the remaining 1,000 cameras. However, on average, these remaining 1,000 cameras are only 60% complete as to conversion costs. (Click the icon to view information on the cameras.) Required Prepare summary journal entries for the use of direct materials and incurrence of conversion costs. Also prepare a journal entry to transfer out the cost of goods completed. Show the postings to the Work-in-Process account. Required. Prepare summary journal entries for the use of direct materials and incurrence of conversion costs. (Record debits first, then credits. Explanations are not required. Round your answers to the nearest whole dollar.) Begin by recording the purchase and use of direct materials. Journal Entry Date Accounts Debit Credit JE 1 Record the conversion costs. Journal Entry Date Accounts Debit Credit JE 2 Prepare a journal entry to transfer out the cost of goods completed. Journal Entry Accounts Debit Date Credit JE 3 Show the postings to the Work-in-Process account. (Round your answers to the nearest whole dollar. Leave any unused cells blank.) Work in Process-Assembly Department Beg. bal 0 Bal