need answerers for Requirements 1 and 2

Lone Stars Trial Balance June 1, 2024 Balance Account Title Debit Credit Cash $19,000 Accounts Receivable 185,000 Inventories: Raw Materials Work-in-Process 42,500 Finished Goods 20.000 Property, Plant, and Equipment 280.000 Accumulated Depreciation 568.000 Accounts Payable Wages Payable Common Stock Retained Eamings Sales Revenue Cost of Goods Sold Manufacturing Overhead Selling and Administrative Expenses Total $552,100$552,100 Requirements 1. Journalize 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 Finisheg Goods Inventory subsidiary ledger have been opened for you along with tach account's balance as given. Post the journal entries to the T-accounts using the transaction letters as a reference. tromi any jeurmal entries.) a. Colections on account, $144,000 b. Seling and mtministrative expenses incurred and paid, 515.009 c. Payments on accovint, $45,000 d. Materials purchased en credt. Papet, $26.600; indirect materiais, $4,000 iPrepare a angie jewamai emay far this event) 6. Malerials fequisitoned and used in peoduction; dob 120. Paper, \$ab0, sob 12 1: Peper, 57 , 650, indewet maluriak. \$1,400 iPrepare a sirgle joumat entry tor ths event 1 indrect labor, 515,700 (Prepare a single youmal entry for this event) 9. Wages paid in dune include the balance in the Wages Payable account at May 31 plus 135.200 of wages incume. in June. h. Depreciation on plant and equipment, $3,400 1. Manufacturing overhead was allocated at the predetermined overhead allocation rate of 50% of direct labor co k. Sales on account: all of Job 120 for $105,000 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. Requirement 2. Taccounts for the general ledget, the Ran Materals Inventocy subsidary ledger, the Work-in. Process inventory subsidary ledger, and the Finished Goods Invertory subeidiary ledger have been opened for you aiong with esch account's balance as given. Pout the joumal entres to the T-accounts using the transaction leters as a teference. Begn with posting the transpobions to the general ledger accounts. Key obch transachon by tansaction lenet, and calculate the ending balance of each account iPoot eash entry by entering only one debat or credn to each Tacocourt Post the transactions to the Raw Malerials inventory subsidary ledger accounts. Key each transactian by transacton letter, and calculate the ending balence, "Fad. of each aktount. (Combine the enties for transaction (e) into che posting) Post the transactions to the Work-in.Process Inventary subsidiary ledger accounts. Key esch transaction by transaction letter, and calculate the ending balance "Eat" of each actount. "For accounts with a zero balance, enter a "or along with a "Bat." relerenoe on the nomal aide of the Taccount.) Post the transactions to the Finished Goods Inventory sutsidary ledger accounts. Kry each transaction by transaction letter, and calculete the ending belance "Eal" of each account. a. Collections on acoount, $144,000. b. Selling and administrative expenses incurred and paid, $15,000. c. Payments on account, $45.000. d. Materials purchased on account: Paper, $26,600; indirect materiats, $4,800. e. Materials requisitioned and used in production: 1. Wages incurred during June, $38,000. Labor time records for the month: Job 120,$4,800;,J06,121,$17,500; indirect labor; $15,700 9. Wages paid in June include the balance in the Wages Payable at May 31 plus $35.200 of wages incurred during June. h. Depreciation on plant and equipment, $3,400. 1. Manufacturing overhead allocated at the predetermined overhead allocation rate of 50% of direct labor costs. J. Jobs completed during the month: Job 120 with 200,000 Large Stars at a total cost of $50,500. k. Sales on account: all of Job 120 for $105,000. 1. Adjusted for overallocated or underallocated manufacturing overhead. More info - Raw Materials Inventory subsidiary ledger: Paper, $4,700; indirect materials, $900 - Work-in-Process Inventory subsidiary ledger: Job 120, $42,500; Job 121, $0 - Finished Goods Inventory subsidiary ledger: Large Stars, $9,700; Small Stars, $10,300