arlberg 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 $ 31,000 93,500 113,300 70,100 Ending Inventory $36,400 54,000 85,500 18.250 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 $ 50,000 23.000 5 18,100 Direct lobor Direct labor Cutting Direct labor-stitching Total factory payroll paid (in cash) 146,500 Factory Overhead (Actual costs) 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 $ 50,000 23,00 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 18,100 72,400 146,500 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 21,600 56.900 52,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Soles 5456,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales : $456,000 Goods Sold Gross Profit General General Requirement Raw Cost of Cost of Cost of Journal Ledger Trial Balance Materials Goods Mfg Goods Mfg Cutting Stitching General Journal tab - Prepare journal entries to record the transactions of Carlberg Company during the month of May. Cost of Materials Used tab - Calculate the total cost of direct materials used in production during May. Cost of Goods Manufactured Cutting and Stitching tab. Prepare a schedule of cost of goods manufactured for Carlberg Company for the month of May. Cost of Goods Sold tab - Prepare a schedule of cost of goods sold for Carlberg Company for the month of May. Gross Profit tab - Calculate the gross profit on sales for May General Journal > Requirement General Journal General Ledger Trial Balance Raw Materials Cost of Goods Mfg Cutting Cost of Goods Mfg Stitching Cost of Goods Sold Gross Profit Prepare journal entries for the month of May's transactions. View transaction list Journal entry worksheet a. Record the purchase of materials (on credit). Note: Enter debits before credits. Account Title Debit Credit Date May 31 Requirement General Journal General Ledger Trial Balance Raw Materials Cost of Goods Mfg Cutting Cost of Goods Mfg Stitching Cost of Goods Sold Gross Profit Dates: Apr 30 to: Apr 30 General Ledger Account Cash Accounts receivable No. Debit Credit No. Date Apr 29 Debit Balance 250.000 Credit Date Apr 30 Balance 28,000 Raw materials inventory Debit Credit Work in process inventory-Stitching Date Debit Credit No. No. Date Apr 29 Balance 31.000 Balance 113.300 Finished goods inventory Work in process inventory-Cutting Date Debit Credit No. Debit Credit Date Apr 29 Balance 70,100 Balance 93 500 Factory Equipment Debit Credit Accumulated depreciation - Factory equipment Date Debit Credit Balance No. Dato Balance Bala 1 of 1 II Next Desktop ere to search Apr 29 31,000 113,300 Finished goods inventory Debit Credit No. Date Apr 29 Work in process inventory-Cutting Date Debit Credit No. Balance 70,100 Balance 93,500 Factory Equipment Debit Credit No. Date Apr 29 No. Balance 50,000 Accumulated depreciation - Factory equipment Date Debit Credit Balance Apr 29 10,000 Accounts payable Debit Credit Common stock, 55 par value Debit 1 Credit No. No. Date Apr 30 Balance 263.000 Date Apr 29 Balance 40.000 - Paid-in capital in excess of par - Common Retained earnings Debit Credit No. Debit Credit No. Balance Date Apr 30 Balance 34000 Date Apr 30 Carlberg Company Trial Balance April 30, 2018 Credit Account Title Cash Accounts receivable Raw materials inventory Work in process inventory Stitching Finished goods inventory Work in process inventory--Cutting Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Common stock. 55 par value paid-in capital in excess of par. Common Retained earnings Total Debit 250,000 28.000 31,000 113.300 70,100 93,500 50.000 10.000 263.000 40.000 34000 253 635.900 635900 Raw Requirement General Journal General Ledger Trial Balance Materials Cost of Cost of Goods Mfg Goods Mfg Cutting Stitching Cost of Goods Sold Gross Profit Verify the ending balance in raw materials inventory. Enter the amount of materials used as negative values. Beginning Raw Materials Inventory Materials available for use Ending raw material inventory Trial Balance Materials General Requirement General Cost of Raw Cost of Journal Cost of Ledger Goods Mfg Goods Mfg Cutting Stitching Prepare a schedule of cost of goods manufactured for Carlberg Company for the month of May. Gross Profit Goods Sold Dates: Apr 30 to: Apr 30 Total manufacturing costs added during May Total cost of work in process Cost of Good Mo Stitch General Requirement General Cost of Raw Cost of Journal Trial Balance Ledger Cost of Goods Mfg Materials Goods Mfg Cutting Stitching Prepare a schedule of cost of goods manufactured for Carlberg Company for the month of May. Gross Profit Goods Sold Dates: Apr 30 to: Apr 30 Total manufacturing costs added during May Total cost of work in process (Cost of Goods Mig Cutting Cost of Goods Sold > Cost of Cost of Requirement Cost of General Journal General Ledger Raw na Balance Materials Goods Mfg Goods Mfg Goods Sold Gross Profit Cutting Stitching Calculate the value of cost of goods sold for the month of May. Ignore any over- or underapplied overhead in th calculation of cost of goods sold. Dates: Apr 30 to: Apr 30 Calculate cost of goods sold: Cost of goods available for sale Cost of goods sold Gross Profit > Cost of Goods Mig Stitching Requirement General Journal General Ledger Trial Balance Cost of Cost of Raw Materials Goods Mfg Cutting Goods Mfa Stitching Cost of Goods Sold Gross Profit Calculate the value of gross profit for the month of May. Dates: Apr 30 Gross Profit to: Apr 30