Dazzle Lighting Corporation manufactures a wide range of lighting fixtures for the housing industry. The company recently adopted backflush costing. The following events occurred in June:

(a) Raw material costing $750 000 was purchased on credit.

(b) Direct labour costs of $300 000 and actual manufacturing overhead costs of $380 000 were incurred. These amounts have not yet been paid in cash.

(c) Conversion costs of $700 000 were applied to finished products. These goods included raw material costing $380 000.

(d) Goods costing $950 000 were sold for $1 300 000 on credit.

(e) Overapplied or underapplied conversion costs were closed to cost of goods sold.

Required:

Prepare journal entries to record these events under the company’s new backflush costing system.