Backflush costing, two trigger points, completion of production and sale (continuation of 20-22). Assume the same facts as in Exercise 20-22, except now Grand Devices uses only two trigger points, Completion of good finished units of product and Sale of finished goods. Any under- or overallocated conversion costs are written off monthly to Cost of Goods Sold
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 Finished Goods Control, Conversion Costs Control, Conversion Costs Allocated, and Cost of Goods Sold.
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