The Manville Manufacturing Company has a cycle time of 1.5 days, uses a raw and in process (RIP) account, and charges all conversion costs to Cost of Goods Sold. At the end of each month, all inventories are counted, their conversion cost components are estimated, and inventory account balances are adjusted. Raw material cost is back flushed from RIP to Finished Goods. The following information is for June:

Required:
Prepare all journal entries that involve the RIP account and/or the finished goods account.

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Beginning balance of RIP account, including $1,200 conversion cost...... 11,700 Beginning balance of finished goods account, including $4,000 of Ending RIP inventory per physical count, including $1,800 conversion Ending finished goods inventory per physical count, including $3,500 12,000 222,000 12,800 9,500 conversion cost estimate..