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: Purchase of direct materials and incurring of conversion costs Completion of good finished units of product Sale of finished goods There are no beginning inventories of materials or finished goods and no beginning or ending work-in-process inventories. The following data are for August 2013: Direct materials purchased …… $ 2,958,000 Conversion costs incurred ……. $ 777,600 Direct materials used ……… $ 2,937,600 Conversion costs allocated …… $ 806,400 Grand Devices records direct materials purchased and conversion costs incurred at actual costs. It has no direct materials variances. When finished goods are sold, the backflush costing system “ pulls through” standard direct material cost ($ 102 per unit) and standard conversion cost ($ 28 per unit). Grand Devices produced 28,800 finished units in August 2013 and sold 28,400 units. The actual direct material cost per unit in August 2013 was $ 102, and the actual conversion cost per unit was $ 27. Required 1. Prepare summary journal entries for August 2013 (without disposing of under- or overallocated conversion costs). 2. Post the entries in requirement 1 to T-accounts for applicable Materials and In- Process Inventory Control, Fin

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