Data table Requirements Herron's August standard cost per meter is direct materials, $24, and conversion cost, $18. Herron has no direct materials variances. The following data apply to August manufacturing: 1. Prepare summary journal entries for August (without disposing of under- or overallocated conversion costs). Direct materials purchased $540,000 Number of finished units manufactured 19,000 2. Post the entries in requirement 1 to T-accounts for Materials and In-Process Inventory Control, Finished Goods Control, Conversion Costs Control, Conversion costs incurred $425,000 Number of finished units sold 17,000 Conversion Costs Allocated, and Cost of Goods Sold. Begin with the purchase of direct materials. Now prepare the entry for the conversion costs incurred. Next prepare the entry for the completion of finished goods. Finally prepare the entry for the sale of the finished goods. Journal Entry Requirement 2. Post the entries in requirement 1 to the following T-accounts