1 Sterra Company manufactures woven blankets and accounts for product costs using process costing. The company uses a single The following additional informaton descnbes the company's production actrvitiles for May ournal s 258,800 Factory wages cost (paid in cash) other overhead cost (other Accounts credited) Materials used $157,see 68,869 Indirect Direct Overhead rate as a percent of direct labor Sales Con credit) General Trial Balance Ledger Cost of Mis Cost of Cloods Cost of Goods Prepare a schedule of cost of goods manufactured for Sierra Company for the month of May. Total manufaoturing costs added during May Total cest of work in process Raw materials purchases (on credit) Factory wages cost (paid in cash) Other overhead cost (Other Accounts credited) Materials used 5 250,89 1,536,606 87,ee0 Direct $ 157,5e8 69,869 Indirect Labor used Direct $ 780,ee0 Indirect Overhead rate as a percent of direct labor Sales (Con credit) 1153 $2,5ee,ee0 General General Trial Balance Cost of Mtls Cost of Goods Cost of Goods Requirement Journal Mfg Sold Gryss Profit Used Calculate the value of gross profit for the month of May. GrosS Prolit Cost of Goods Sold