Grand Devices Corporation assembles handheld computers that have scaled-down capabilities of laptop computers. Each handheld computer takes 6 hours to assemble. Grand Devices uses a JIT production system and a backflush costing system with three trigger points. There are no beginning inventories of materials or finished goods. The following data are for August: Requirement 1. Prepare summary journal entries for August in the order they occur (without disposing of under- or overallocated conversion costs). Begin with the purchase of direct materials. (Record debits first, then credits. Explanations are not required.)

Grand Devices Corporation assembles handheld computers that have scaled-down capabilities of laptop computers. Each handheld computer takes 6 hours to assemble. Grand Devices uses a JIT production system and a backflush costing system with three trigger points finished goods. The following data are for August View the August data. RequiredPrepare summary journal entries for August in the order they occur (without disposing of under- or overallocated conversion costs) _ There are no beginning inventories of materials or Requirement 1. Prepare summary journal entries for August in the order they occur (without disposing of under- or overallocated conversion costs). Begin with the purchase of direct materials. (Record debits first, then credits. Explanations are not required.) Accounts Debit Credit vE1 August data Direct materials purchased 5 3,024,000 Direct materials used 5 2,832,500 Now, prepare the entry for the conversion costs incurred Conversion casts incurred S 725,400 Accounts Debit Credit Conversion costs allocated S 742,500 = Grand Devices records direst materials purchased and Next, prepare the entry for the completion of finished goods. conversion cost per unit was $26. Accounts Debit Credit JE3 conversion costs incurred at actual costs. When finished goods are sold, the backflush costing system "pulls through\" the standard direct material cost (5103 per unit) and standard conversion cost (527 per unit). Grand Devices produced 27,500 finished units in August and sold 21,300 units. The actual direct material cost per unit in August was $103, and the actual Finally, prepare the entry for the sale of the finished goods. Accounts Debit Credit JE4