Assume the same facts as in Problem 20 33 except now
Assume the same facts as in Problem 20-33 except now there are only two trigger points: the completion of good finished units of product and the sale of finished goods.
REQUIRED
1. Prepare summary journal entries for August, including the disposition of under- or over allocated conversion costs. Assume no direct materials variances.
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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