Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June1 follows:

Thank you!

- X . i More Info Dala Table Avery Stars pr follows: (Click the June 1 balanc (Click the Avery Stars Trial Balance June 1, 2018 a. Collections on account, S140,000. b. Selling and administrative expenses incurred and paid, $33,000. c. Payments on account, $36,000. d. Materials purchased on account: Paper, $21,600; indirect materials, $3,800. c. Materials requisitioned and used in production: Review the tri Roviow they 850 Account Title Balance Debit Credit 20,000 Job 120: Paper Job 121: Paper, $ 8,000 Cash S Accounts Receivable 155,000 5,900 43,000 Indirect materials, $ 1,700 f. Wages incurred during June, $34,000. Labor time records for the month: Job 120, $4.800; Job 121, $16.500; inclirect labor, 512,700 g. Wages paid in June include the balance in the Wages Payable at May 31 plus $31,100 of wages incurred during June. h. Depreciation on plant and equipment, $3,100. i. Manufacturing overhead allocated at the predetermined overhead allocation rate of 80% of direct labor costs. i. Jobs completed during the month Job 120 with 900.000 Large Stars at a total cost of $52,490. k. Sales on account: all of Job 120 for $125,000. 1. Adjusted for overallocated or underallocated manufacturing overtread. Inventories: Raw Materials Work in Process Finished Goods Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Wages Payablo Common Stock Retained Earnings Sales Revenue 22,800 240,000 77.000 128.000 1,800 Cost of Goods 144,000 Print Done Gross Profit 135,900 0 Cost of Goods Sold 0 Net Income il Raw Materials Inventory subsidiary ledger: Paper, S4,100; indirect materials, $1,800 Work-in-Process Inventory subsidiary ledger: Job 120, $43,000; Job 121, $0 Finished Goods Inventory subsidiary ledger: Large Stars, $9,300; Small Stars, $13.500 Choose from a Print Done vestid June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Collections on account, $140,000 Date Accounts Debit Credit a. b. Selling and administrative expenses incurred and paid, $33.000 Date Accounts Debit Credit b. c. Payments on account, $36,000 Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements d. Materials purchased on credit: Paper, $21,600; indirect materials, $3,800 (Prepare a single journal entry for this event.) Date Accounts Debit Credit d. e. Materials requisitioned and used in production: Job 120: Paper, S850, Job 121: Paper, $8,000, Indirect materials, S1,700 (Prepare a single journal entry for this event.) Date Accounts Debit Credit e. f. Wages incurred during June, $34,000. Labor time records for the month: Job 120, $4.800; Job 121, $16,500; indirect labor, $12,700 (Prepare a single journal entry for this event.) Date Accounts Debit Credit f. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: B (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. g. Wages paid in June include the balance in the Wages Payable account at May 31 plus $31,100 of wages incurred in June Date Accounts Debit Credit g. h. Depreciation on plant and equipment, $3,100 Date Accounts Debit Credit h. i. Manufacturing overhead was allocated at the predetermined overhead allocation rate of 80% of direct labor costs. Date Accounts Debit Credit i. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: i (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements j. Jobs completed during the month: Job 120, 900,000 Large Stars at total cost of $52,490 Date Accounts Debit Credit j. k. Sales on account: all of Job 120 for $125,000 Begin by recording the revenue from the sales on account. Do not record the expense related to the sale in this journal entry. We will do that in the next step, Date Accounts Debit Credit k. Now record the cost of goods sold related to the sale of all of Job 120. Date Accounts Debit Credit k. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: i (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, 1. Adjusted for overallocated or underallocated manufacturing overhead. Date Accounts Debit Credit I. Requirement 2. T-accounts for the general ledger, the Raw Materials Inventory subsidiary ledger, the Work-in-Process Inventory subsidiary ledger and the Finished Goods Inventory subsidiary ledger have been opened for you along with each account's balance as given. Post the journal entries to the T-accounts using the transaction letters as a reference. Begin with posting the transactions to the general ledger accounts. Key each transaction by transaction letter, and calculate the ending balance of each account. (Post each entry by entering only one debit or credit each T-account affected by the transaction. For accounts with a zero balance, enter a "0" along with a "Bal" reference on the normal side of the T-account.) Review the joumal entries you prepared in Requirement 1. Cash Accounts Receivable Raw Materials Inventory Bal. 20,000 Bal. 155.000 Bal. 5,900 Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: i (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, 1. Adjusted for overallocated or underallocated manufacturing overhead. Date Accounts Debit Credit I. Requirement 2. T-accounts for the general ledger, the Raw Materials Inventory subsidiary ledger, the Work-in-Process Inventory subsidiary ledger and the Finished Goods Inventory subsidiary ledger have been opened for you along with each account's balance as given. Post the journal entries to the T-accounts using the transaction letters as a reference. Begin with posting the transactions to the general ledger accounts. Key each transaction by transaction letter, and calculate the ending balance of each account. (Post each entry by entering only one debit or credit each T-account affected by the transaction. For accounts with a zero balance, enter a "0" along with a "Bal" reference on the normal side of the T-account.) Review the joumal entries you prepared in Requirement 1. Cash Accounts Receivable Raw Materials Inventory Bal. 20,000 Bal. 155.000 Bal. 5,900 Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Work-in-Process Inventory Finished Goods Inventory Property, Plant, and Equipment Bal 240,000 Bal. 43,000 Bal 22,800 Wages Payable Accumulated Depreciation 77.000 Bal. Accounts Payable 128.000 Bal. 1,800 Bal. Sales Revenue Common Stock 144,000 Bal Retained Earnings 135.900 Bal. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements Common Stock Sales Revenue Retained Earnings 135,900 Bal 144,000 Bal. Cost of Goods Sold Manufacturing Overhead Selling and Admin. Expenses Post the transactions to the Raw Materials Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance, "Bal" of each account. (Combine the entries for transa posting.) Paper Indirect Materials Bal. 4,100 Bal. 1,800 Choose from any list or enter any number in the input fields and then continue to the next question. Avery Stars procuces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: June transactions are summarized as follows: (Click the icon to view the transactions.) (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements Paper Indirect Materials Bal. 4,100 Bal 1.800 Post the transactions to the Work-in-Process Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance "Bal." of each account. (For accounts with a zero balance, enter a "O" along with a "Bal." reference on the normal side of the T-account.) Job 120 Job 121 Ball 43.000 Post the transactions to the Finished Goods Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance "Bal." of each account. Large stars Small stars Bal. Bal. 9.300 | 13.500 Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were follows: A (Click the icon to view the balances.) Read the requirements. Small stars Largo stars 9,300 Ball Bal. 13.500 Requirement 3. Prepare a trial balance at June 30, 2018. (Leave both the Debit and Credit column cells blank for accounts with a zero balance at June 30.) Review the general ledger accounts you prepared in Requirement 2. Avery Stars Trial Balance June 30, 2018 Balance Debit Credit Account Title Cash Accounts Receivable Inventories: Raw Materials Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: E: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Raw Materials Work In Process Finished Goods Property, Plant and Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Manufacturing Overhead Selling and Administrative Expenses III Total Requirement 4. Use the Work-in-Process Inventory T-account to prepare a schedule of cost of goods manufactured for the month of June. Review the Work-In-Process Inventory general ledger account you prepared in Requirement 2. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were follows: (Click the icon to view the balances.) Read the requirements Requirement 4. Use the Work-in-Process Inventory T-account to prepare a schedule of cost of goods manufactured for the month of June. Review the Work-In-Process Inventory general ledger account you prepared in Requirement 2. Avery Stars Schedule of Cost of Goods Manufactured Month Ended June 30, 2018 Cost of Goods Manufactured Requirement 5. Prepare an income statement for the month of June. Review the trial balance you prepared in Requirement 3. Review the journal entry for underallocated manufacturing overhead you prepared in Requirement 1. Choose from any list or enter any number the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Requirement 5. Prepare an income statement for the month of June. Review the trial balance you prepared in Requirement 3. Review the journal entry for underallocated manufacturing overhead you prepared in Requirement 1. Avery Stars Income Statement Month Ended June 30, 2018 Cost of Goods Sold Gross Profit - X . i More Info Dala Table Avery Stars pr follows: (Click the June 1 balanc (Click the Avery Stars Trial Balance June 1, 2018 a. Collections on account, S140,000. b. Selling and administrative expenses incurred and paid, $33,000. c. Payments on account, $36,000. d. Materials purchased on account: Paper, $21,600; indirect materials, $3,800. c. Materials requisitioned and used in production: Review the tri Roviow they 850 Account Title Balance Debit Credit 20,000 Job 120: Paper Job 121: Paper, $ 8,000 Cash S Accounts Receivable 155,000 5,900 43,000 Indirect materials, $ 1,700 f. Wages incurred during June, $34,000. Labor time records for the month: Job 120, $4.800; Job 121, $16.500; inclirect labor, 512,700 g. Wages paid in June include the balance in the Wages Payable at May 31 plus $31,100 of wages incurred during June. h. Depreciation on plant and equipment, $3,100. i. Manufacturing overhead allocated at the predetermined overhead allocation rate of 80% of direct labor costs. i. Jobs completed during the month Job 120 with 900.000 Large Stars at a total cost of $52,490. k. Sales on account: all of Job 120 for $125,000. 1. Adjusted for overallocated or underallocated manufacturing overtread. Inventories: Raw Materials Work in Process Finished Goods Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Wages Payablo Common Stock Retained Earnings Sales Revenue 22,800 240,000 77.000 128.000 1,800 Cost of Goods 144,000 Print Done Gross Profit 135,900 0 Cost of Goods Sold 0 Net Income il Raw Materials Inventory subsidiary ledger: Paper, S4,100; indirect materials, $1,800 Work-in-Process Inventory subsidiary ledger: Job 120, $43,000; Job 121, $0 Finished Goods Inventory subsidiary ledger: Large Stars, $9,300; Small Stars, $13.500 Choose from a Print Done vestid June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Requirement 1. Journalize the transactions for the company. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Collections on account, $140,000 Date Accounts Debit Credit a. b. Selling and administrative expenses incurred and paid, $33.000 Date Accounts Debit Credit b. c. Payments on account, $36,000 Date Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements d. Materials purchased on credit: Paper, $21,600; indirect materials, $3,800 (Prepare a single journal entry for this event.) Date Accounts Debit Credit d. e. Materials requisitioned and used in production: Job 120: Paper, S850, Job 121: Paper, $8,000, Indirect materials, S1,700 (Prepare a single journal entry for this event.) Date Accounts Debit Credit e. f. Wages incurred during June, $34,000. Labor time records for the month: Job 120, $4.800; Job 121, $16,500; indirect labor, $12,700 (Prepare a single journal entry for this event.) Date Accounts Debit Credit f. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: B (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. g. Wages paid in June include the balance in the Wages Payable account at May 31 plus $31,100 of wages incurred in June Date Accounts Debit Credit g. h. Depreciation on plant and equipment, $3,100 Date Accounts Debit Credit h. i. Manufacturing overhead was allocated at the predetermined overhead allocation rate of 80% of direct labor costs. Date Accounts Debit Credit i. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: i (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements j. Jobs completed during the month: Job 120, 900,000 Large Stars at total cost of $52,490 Date Accounts Debit Credit j. k. Sales on account: all of Job 120 for $125,000 Begin by recording the revenue from the sales on account. Do not record the expense related to the sale in this journal entry. We will do that in the next step, Date Accounts Debit Credit k. Now record the cost of goods sold related to the sale of all of Job 120. Date Accounts Debit Credit k. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: i (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, 1. Adjusted for overallocated or underallocated manufacturing overhead. Date Accounts Debit Credit I. Requirement 2. T-accounts for the general ledger, the Raw Materials Inventory subsidiary ledger, the Work-in-Process Inventory subsidiary ledger and the Finished Goods Inventory subsidiary ledger have been opened for you along with each account's balance as given. Post the journal entries to the T-accounts using the transaction letters as a reference. Begin with posting the transactions to the general ledger accounts. Key each transaction by transaction letter, and calculate the ending balance of each account. (Post each entry by entering only one debit or credit each T-account affected by the transaction. For accounts with a zero balance, enter a "0" along with a "Bal" reference on the normal side of the T-account.) Review the joumal entries you prepared in Requirement 1. Cash Accounts Receivable Raw Materials Inventory Bal. 20,000 Bal. 155.000 Bal. 5,900 Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: i (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements, 1. Adjusted for overallocated or underallocated manufacturing overhead. Date Accounts Debit Credit I. Requirement 2. T-accounts for the general ledger, the Raw Materials Inventory subsidiary ledger, the Work-in-Process Inventory subsidiary ledger and the Finished Goods Inventory subsidiary ledger have been opened for you along with each account's balance as given. Post the journal entries to the T-accounts using the transaction letters as a reference. Begin with posting the transactions to the general ledger accounts. Key each transaction by transaction letter, and calculate the ending balance of each account. (Post each entry by entering only one debit or credit each T-account affected by the transaction. For accounts with a zero balance, enter a "0" along with a "Bal" reference on the normal side of the T-account.) Review the joumal entries you prepared in Requirement 1. Cash Accounts Receivable Raw Materials Inventory Bal. 20,000 Bal. 155.000 Bal. 5,900 Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Work-in-Process Inventory Finished Goods Inventory Property, Plant, and Equipment Bal 240,000 Bal. 43,000 Bal 22,800 Wages Payable Accumulated Depreciation 77.000 Bal. Accounts Payable 128.000 Bal. 1,800 Bal. Sales Revenue Common Stock 144,000 Bal Retained Earnings 135.900 Bal. Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements Common Stock Sales Revenue Retained Earnings 135,900 Bal 144,000 Bal. Cost of Goods Sold Manufacturing Overhead Selling and Admin. Expenses Post the transactions to the Raw Materials Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance, "Bal" of each account. (Combine the entries for transa posting.) Paper Indirect Materials Bal. 4,100 Bal. 1,800 Choose from any list or enter any number in the input fields and then continue to the next question. Avery Stars procuces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: June transactions are summarized as follows: (Click the icon to view the transactions.) (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements Paper Indirect Materials Bal. 4,100 Bal 1.800 Post the transactions to the Work-in-Process Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance "Bal." of each account. (For accounts with a zero balance, enter a "O" along with a "Bal." reference on the normal side of the T-account.) Job 120 Job 121 Ball 43.000 Post the transactions to the Finished Goods Inventory subsidiary ledger accounts. Key each transaction by transaction letter, and calculate the ending balance "Bal." of each account. Large stars Small stars Bal. Bal. 9.300 | 13.500 Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were follows: A (Click the icon to view the balances.) Read the requirements. Small stars Largo stars 9,300 Ball Bal. 13.500 Requirement 3. Prepare a trial balance at June 30, 2018. (Leave both the Debit and Credit column cells blank for accounts with a zero balance at June 30.) Review the general ledger accounts you prepared in Requirement 2. Avery Stars Trial Balance June 30, 2018 Balance Debit Credit Account Title Cash Accounts Receivable Inventories: Raw Materials Choose from any list or enter any number in the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: E: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Raw Materials Work In Process Finished Goods Property, Plant and Equipment Accumulated Depreciation Accounts Payable Wages Payable Common Stock Retained Earnings Sales Revenue Cost of Goods Sold Manufacturing Overhead Selling and Administrative Expenses III Total Requirement 4. Use the Work-in-Process Inventory T-account to prepare a schedule of cost of goods manufactured for the month of June. Review the Work-In-Process Inventory general ledger account you prepared in Requirement 2. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were follows: (Click the icon to view the balances.) Read the requirements Requirement 4. Use the Work-in-Process Inventory T-account to prepare a schedule of cost of goods manufactured for the month of June. Review the Work-In-Process Inventory general ledger account you prepared in Requirement 2. Avery Stars Schedule of Cost of Goods Manufactured Month Ended June 30, 2018 Cost of Goods Manufactured Requirement 5. Prepare an income statement for the month of June. Review the trial balance you prepared in Requirement 3. Review the journal entry for underallocated manufacturing overhead you prepared in Requirement 1. Choose from any list or enter any number the input fields and then continue to the next question. June transactions are summarized as follows: (Click the icon to view the transactions.) Avery Stars produces stars for elementary teachers to reward their students. Avery Stars' trial balance on June 1 follows: (Click the icon to view the trial balance.) June 1 balances in the subsidiary ledgers were as follows: (Click the icon to view the balances.) Read the requirements. Requirement 5. Prepare an income statement for the month of June. Review the trial balance you prepared in Requirement 3. Review the journal entry for underallocated manufacturing overhead you prepared in Requirement 1. Avery Stars Income Statement Month Ended June 30, 2018 Cost of Goods Sold Gross Profit