Ang ACCT212 MACCIDO omework Required information The following information applies to the questions displayed below) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. Al direct materials enter production at the beginning of the Cutting process. The following information is available regarding its May inventories: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 163,500 120,500 183,300 97,700 44,100 32,250 The following additional Information describes the company's production activities for May Direct materials Raw materials purchased on credit 585,000 Direct materials used-Cutting 24,750 Direct materials used-stitching e Direct labor Direct labor-cutting Direct labor-stitching Total factory payroll paid in cash) 5 21,600 86,400 165.400 Factory Overhead Actual costs Indirect materials used Indirect labor used other overhead costs $ 66,00 57.100 39,000 Factory Overhead Rates Cutting (1504 of direct materials used) Stitching (1205 af direct labor used) $735.000 Sales Required: 1. Compute the amount of cal production cost transferred from Cutting to Satching production costs transferred from Sitching to finished goods, and cost of goods sold World Dr. Cung out My Work in Process 13.00 out of 050 21.00 245.971 3 Homework Direct labor Direct labor-Outting Direct labor-stitching Total factory payroll paid (in cash) 5 21,600 86,400 165,400 Factory Overhead (Act costs Indirect materials used Indirect labor used Other overhead costs $ 46,800 57,400 59,000 Factory Ovechead Rates Cutting (15es of direct materials used Stitching (1205 of direct labor esed) Sales $736,000 Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching. (b) production costs transferred fro to finished goods, and (c) cost of goods sold WIP - April 30 Direct materials. Guing Oirect ber-Cutting Overwad - Cutting WIP-May 31 Work in Process Patting 163 500 cost of goods sold 24750 21.500 37,125 246975 Work in Process (WIP) - Sotching 183.300 WP.An 30 Orector Sching org WPM 86400 103.000 373380 IFA COM Finished Goods a 44.100 22210 76.50 Required Information The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes: Cutting and S production at the beginning of the Cutting process. The following information is availa inventories: Work in process inventory-cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 163,500 120,500 183,308 97,700 44,100 32,250 The following additional information describes the company's production activities for N Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $ 85,000 24,750 Direct labor Direct laber-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 21,600 86,400 165,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $46,800 57,400 59,000 Factory Overhead Rates Cutting (1589 of direct materials used Stitching (1209 or direct labor used) Sales $736, 800 Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b) productie to finished goods, and (s) cost of goods sold. WIP Add Work in Process (WIP) Cutting 163.500 Con of boods Bold
