1.Record purchase of raw materials.

2.Record direct materials used in production.

3.Record indirect materials used in production.

4.Record direct labor cost incurred, but not yet paid.

5.Record indirect labor cost incurred, but not yet paid.

6.Record payment of total factory payroll.

7.Record other overhead costs incurred (credit Other accounts).

8.Record overhead applied at 115% of direct labor cost.

9.Record the transfer of completed products from production to finished goods inventory.

10.Record the sale of finished goods.

11.Record cost of goods sold for May.

Journal entry worksheet Record purchase of raw materials. Note: Enter debits before credits. Date General Journal Debit Credit May 31 Record entry Clear entry View general journal Requieu TIUITIALIUIT (The following information applies to the questions displayed below.] Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following information is available regarding its May inventories Raw materials inventory Work in process inventory Finished goods inventory Beginning Ending Inventory Inventory $ 57,000 $ 23,500 420,500 589,000 615, 000 574, 000 The following additional information describes the company's production activities for May. $ 260,000 1,536,000 59,000 $ Raw materials purchases (on credit) Factory wages 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) 211,500 82,000 $ 780,000 756, 000 115% $4,500,000 The predetermined overhead rate was computed at the beginning of the year as 115% of direct labor cost. 2. Prepare summary journal entries dated May 31 to record the following production activities during May: (a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage, (d) direct labor costs incurred, (e) indirect labor costs incurred, (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