Assume the same facts as in Problem 20-33 except now there are only two trigger points: Completion of good finished units of product and Sale of finished goods.

1. Prepare summary journal entries for August, including the disposition of under- or overallocated 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.

Data From Problem 20-33:
Assume that the second trigger point for Grand Meter Corporation is the sale—rather than the completion—of finished goods. Also, the inventory account is confined solely to direct materials, whether these materials are in a storeroom, in work in process, or in finished goods. No conversion costs are inventoried. They are allocated to the units sold at standard costs. Any under- or overallocated conversion costs are written off monthly to Cost of Goods Sold.