The Acton Corporation manufactures electrical meters. For August, there were no beginning inventories of direct materials and no beginning or ending work in process. Acton uses a JIT production system and backflush costing with three trigger points for making entries in the accounting system:

■ Purchase of direct materials-debited to Inventory: Materials and In-Process Control
■ Completion of good finished units of product-debited to Finished Goods Control
■ Sale of finished goods

Acton's August standard cost per meter is direct material, $25; and conversion cost, $20. The following data apply to August manufacturing:

Required
1. Prepare summary journal entries for August (without disposing of under- or overallocated conversion costs). Assume no direct materials variances.
2. Post the entries in requirement 1 to T-accounts for Inventory: Materials and In-Process Control, Finished Goods Control, Conversion Costs Control, Conversion Costs Allocated, and Cost of Goods Sold.