Have to be completed by Monday morning. Excel or word d

Have to be completed by Monday morning. Excel or word document.Here is exercise: BACKFLUSH COSTINGCornestone 11-5 (Chapter 11-Strategic Cost Management)1. Prepare the j entries for traditional and backflush costing. For backflush costing assume there are 2 trigger points: 1). the purchase of raw materials and 2). the completion of the goods. 2. Assume the second trigger point in Requirement 1 is the sale of goods. What would change for the backflush costing journal entries?3.What if there is only one trigger point and it is (a) completion of the goods or (b) sale of goods? how would the backflush costing journal entries differ from Requirment 1 for (a) and (b)?Hepworth company has implemented a JIT system and is considering the use of backflush costing. Hepworth had the following transactions for the current fiscal year:1. Purchased raw materials on account for $600 0002.Placed all materials received into production3.Incurred actual direct labor costs of $900004.Incurred actual overhead costs of $625 0005.Applied conversion cost of $6750006.Completed all work for the month7.Sold all completed work8.Computed the difference between actual and applied costs.
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