that is all that is given. Question 2 Grand company uses a backflush...
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that is all that is given.
Question 2 Grand company uses a backflush costing system. There are not beginning or materials or finished goods and no beginning or ending work-in-process inventories. The following data are for 2018: Direct material purchased Conversion costs incurred Standard DM cost Standard conversion cost Units produced Units sold $2,958,000 $777,600 $102 per unit $28 per unit 28,800 28,400 Require: 1. Prepare summary journal entries, including the disposition of under over allocated conversion costs for: a. Use the following three trigger points: i. Purchase of direct materials and incurring conversion costs ii. Completion of good finished of product iii. Sale of finished goods b. Use the following two trigger points: i. Purchase of materials and incurring conversion costs ii. Sales of finished goods
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