cher Star cher Star Teacher Stars Trial Balance June 1, 2024 ansac ick th (Click the Balance me 1 balan Account Title Debit Credit e reg (Click the Cash 18,000 Accounts Receivable 185,000 Inventories: Raw Materials 5,500 equiremen expl Work-in-Process 41,000 Collections Finished Goods 20,700 Date edit Property, Plant, and Equipment 230,000 More info 4 . Raw Materials Inventory subsidiary ledger Paper, $4,500, indirect materials, $1,000 Work-in-Process Inventory subsidiary ledger Job 120, $41,000; Job 121, $0 Finished Goods Inventory subsidiary ledger Large Stars, $9.600; Small Stars, $11,100 Collections on account, $141,000 Selling and administrative expenses incurred and paid, $24,000 Payments on account, $43,000 Materials purchased on account Paper, $24,500, indirect materials, $3,800, Materials requisitioned and used in production June transactions are summarized as follows (Click the icon to view the transactions) Requirement Job 120: Paper, $ 700 Job 121: Paper, $ 7.550 $ 1.500 Indirect materials, t. Wages incurred during June, $35,000 Labor time records for the month Job 120, $3,750, Job 121, $18.300, indeect labor, $12.950 9. Wages paid in June include the balance in the Wages Payable at May 31 plus $32.000 of wages incurred during June h. Depreciation on plant and equipment, $3.200 Manufacturing overhead allocated at the predetermined overhead allocation rate of 80% of direct labor costs 3. Jobs completed during the month Job 120 with 300.000 Large Stars at a total cost of $48,450 k. Sales on account all of Job 120 for $100,000 1. Adjusted for overallocated or underallocated manufacturing overhead 1. Joumalize the transactions for the company 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 Taccounts uning the transaction letters as a reference 3. Prepare a trial balance at June 30, 2024 4. Use the Work in Process inventory T-account to prepare a schedule of cost of goods manufactured for the month of June 5. Prepare an income statement for the month of June Print Done Print Done