1) Record the purchase of materials (on credit)

2) Record direct materials used in production

3) record the usage of indirect materials.

4) Record the cost of direct labor incurred but not yet paid. (Use "factory wages payable" account)

5) Record the cost of indirect labor incurred but not yet paid. (Use "factory wages payable" account)

6) Record the payment of the total factory payroll.

7) Record the cost of other factory overhead costs (credit other accounts)

8) Record the application of overhead at a rate of 150% of direct materials costs (cutting) and 120% of direct labor cost (stitching)

9) Record the transferred costs of partially completed goods.

10) Record the transfer of production to finished goods, as calculated on the cost of goods manufactured tab.

11) Record the cost of goods sold, calculated on the cost of goods sold tab

12) Record the sales of goods on account

Amidon Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Raw materials inventory Work in process inventory-Cutting Work in process inventory-stitching Finished goods inventory Beginning Inventory $ 41,000 113,500 133,300 90,100 Ending Inventory $48,700 55,000 95,500 22,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $ 60,000 23,500 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 19, 100 76,400 151,900 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 28,800 56,400 54,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $536,000 Prepare journal entries for the month of May's transactions. No Account Title Debit Credit Date May 31 1 Raw materials inventory Accounts payable 2 May 31 Work in process inventory-Cutting Raw materials inventory >$ 3 May 31 Factory overhead Raw materials inventory 4 May 31 Work in process inventory-Cutting Work in process inventoryStitching Factory wages payable 5 May 31 Factory overhead Factory wages payable 6 May 31 Factory wages payable Cash 7 May 31 Factory overhead Other accounts OO 8 May 31 Work in process inventoryStitching Work in process inventory-Cutting Factory overhead 9 May 31 Work in process inventoryStitching Work in process inventory-Cutting 10 May 31 Finished goods inventory Work in process inventory-Stitching 11 May 31 Cost of goods sold Finished goods inventory 12 May 31 Accounts receivable Sales General Ledger Account Cash Accounts receivable Debit Credit No. Debit Credit No. Date Apr 29 Balance 270,000 Date Apr 30 Balance 36,000 Raw materials inventory Debit Credit Work in process inventory-Stitching Date Debit Credit No. No. Date Apr 29 Balance 41,000 Balance 133,300 Finished goods inventory Debit Credit Work in process inventory-Cutting Date Debit Credit No. No. Date Apr 29 Balance 90,100 Balance 113,500 Factory Equipment Debit Credit No. No. Date Apr 29 Balance 60,000 Accumulated depreciation - Factory equipment Date Debit Credit Balance Apr 29 12,000 Accounts payable Debit Credit Common stock, 55 par value Debit Credit No. Balance No. Date Date Apr 30 Balance 44,000 358,600 Apr 29 Paid-in capital in excess of par - Common Date Debit Credit Apr 30 No. Retained earnings Debit Credit No. Date Balance 38,000 Balance 291,300 Apr 30 Dates: Apr 30 to: Apr 30 Amidon Company Trial Balance April 30, 2018 Credit s Account Title Cash Accounts receivable Raw materials inventory Work in process inventory-Stitching Finished goods inventory Work in process inventoryCutting Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock, $5 par value Paid-in capital in excess of par - Common Retained earnings Total Debit 270,000 36,000 41,000 133,300 90,100 113,500 60,000 12,000 358,600 44,000 38,000 291,300 743,900 S 743,900 $ Verify the ending balance in raw materials inventory. Enter the amount of materials used as negative values. Beginning Raw Materials Inventory Raw materials purchased Materials available for use Direct materials used Indirect materials used Ending raw material inventory 0 Prepare a schedule of cost of goods manufactured for Amidon Company for the month of May. Dates: Apr 30 to: Apr 30 Direct labor used Direct materials used Factory overhead applied Total manufacturing costs added during May Add: Beginning work in process inventory Total cost of work in process Less: Ending work in process inventory Prepare a schedule of cost of goods manufactured for Amidon Company for the month of May. Dates: Apr 30 to: Apr 30 Direct labor used Direct materials used Factory overhead applied Transferred-in from Cutting 0 Total manufacturing costs added during May Add: Beginning work in process inventory Total cost of work in process Less: Ending work in process inventory Calculate the value of cost of goods sold for the month of May. Ignore any over- or underapplied overhead in the calculation of cost of goods sold. Dates: Apr 30 to: Apr 30 Calculate cost of goods sold: Beginning finished goods inventory Cost of goods manufactured Cost of goods available for sale Ending finished goods inventory Cost of goods sold Calculate the value of gross profit for the month of May. Dates: Apr 30 to: Apr 30 Gross Profit Sales Cost of goods sold