Required: Prepare journal entries dated June 30 to record the following production activities during June for the information below: (a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage, (d) direct labor costs, (e) indirect labor costs, (f) payment of factory payroll, (g) other overhead costs, (h) overhead applied, (i) goods transferred from production to finished goods, and (i) sale of finished goods. Prepare the journal entries in excel using appropriate spacing, referencing, and formulas. Information: Dream Toys Company manufactures video game consoles and accounts for product costs using process costing. The company uses a single processing department. The following information is available regarding its June inventories. Raw materials inventory Work in process inventory Finished goods inventory Beginning Inventory $ 72,000 156,000 160,000 Ending Inventory $110,000 250,000 198,000 The following additional information describes the company's production activities for June. $ 200,000 400,000 170,500 $ Raw materials purchases (on credit) Factory payroll cost (paid in cash) Other overhead cost (Other Accounts credited) Materials used Direct Indirect Labor used Direct Indirect Overhead rate as a percent of direct labor Sales (on credit) 120,000 42,000 $ 350,000 50,000 75% $1,000,000