#5 ch 16

5 required intormation [The following information applies to the questions displayed below) Sierro 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: Beginning Ending Inventory Inventory Work in process inventory-Cutting 43,500 51,500 Work in process inventory-stitching Finished goods inventory 63,300 60,500 20, 100 8,250 + The following additional information describes the company's production activities for May Direct materials Raw materials purchased on credit $ 25,000 Direct materials used-cutting 21,750 Direct materials used-stitching 0 Direct labor Direct labor cutting Direct labor-stitching Total factory payroll paid (in cash) $ 15,600 62,400 133.000 Factory Overhead (actual costs) Indirect materials used redirect lahor nad $6,000 Tra Required information May 31 Raw materials inventory Accounts payable 2 May 31 Work in process inventory--Cutting Raw matenais inventory 3 May 31. Factory overhead Raw materials inventory 4 May 31 Work in process inventory-Stitching Factory wages payable ch 5 May 31 Factory overhead Factory payroll payable 7 6 May 31 Factory payroll payable Cash 7 May 31 Factory overhead Accounts payable 8 May 31 Work in process inventory-Cutting Factory overhead Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 43,500 51,500 63,300 60,500 20,100 8,250 The following additional information describes the company's production activities for Ma Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $ 25,000 21,750 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 15,600 62,400 133,000 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 47,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $256,000