Callahan 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 Inventory $ 91,000 Ending Inventory $ 110,200 213,500 60,000 233,300 145,500 190,100 42,250 Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory 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 Direct labor Direct labor-Cutting Direct labor-Stitching Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs Factory Overhead Rates Cutting Stitching $ 110,000 26,000 0 $ 24,100 96,400 $ 64,800 58,400 64,000 (150% of direct materials used) (120% of direct labor used) Sales $ 936,000 Answer is not complete. 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. No Date Account Title 1 May 31 Raw materials inventory Accounts payable Debit Credit 110,000 110,000 2 May 31 Work in process inventory-Cutting 26,000 Raw materials inventory 26,000 3 May 31 Factory overhead 64,800 Raw materials inventory 64,800 4 May 31 Work in process inventory-Cutting 24,100 Work in process inventory-Stitching 96,400 Factory wages payable 120,500 5 May 31 Factory overhead Factory wages payable 58,400 58,400 6 May 31 Factory overhead Cash 64,000 64,000 7 May 31 Work in process inventory-Cutting 39,000 Work in process inventory-Stitching Factory overhead 115,680 154,680 8 May 31 Work in process inventory-Stitching 242,600 Work in process inventory-Cutting 242,600 9 May 31 Finished goods inventory 157,100 Work in process inventory-Stitching 157,100 10 May 31 Accounts receivable Sales 936,000 936,000 11 May 31 Cost of goods sold 501,130 Finished goods inventory 501,130