Kid Stars produces stars for elementary teachers to reward their students. Kid Stars' trial balance on June 1 follows: June transactions are summarized as follows: (Click the icon to view the trial balance.) (Click the icon to view the transactions.) 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, $155,000 - Raw Materials Inventory subsidiary ledger: Paper, $4,100; indirect materials, $2,200 1. Journalize the transactions for the company. 2. T-accounts for the general ledger, the Raw Materials Inventory subsidiary - Work-in-Process Inventory subsidiary ledger: Job 120, $41,300; Job 121, $0 ledger, the Work-in-Process Inventory subsidiary ledger, and the Finished - Finished Goods Inventory subsidiary ledger: Large Stars, $9,500; Small Stars, $13,300 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. 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. More info a. Collections on account, $155,000. b. Selling and administrative expenses incurred and paid, $22,000. c. Payments on account, $42,000. d. Materials purchased on account: Paper, $26,600; indirect materials, $3,800. e. Materials requisitioned and used in production: f. Wages incurred during June, $34,000. Labor time records for the month: Job 120, $3,500; Job 121, $17,500; indirect labor, $13,000. 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, $2,900. i. Manufacturing overhead allocated at the predetermined overhead allocation rate of 50% of direct labor costs. j. Jobs completed during the month: Job 120 with 900,000 Large Stars at a total cost of $47,250. k. Sales on account: all of Job 120 for $115,000. I. Adjusted for overallocated or underallocated manufacturing overhead