Can anyone help determine what I have wrong or what am I missing?
Required information (The following information applies to the questions displayed below.) Sierra 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 Raw materials inventory $ 6,000 $ 3,250 Work in process inventory-Cutting 43,500 51,500 Work in process inventory-Stitching 63,300 60,500 Finished goods inventory 20,100 B, 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 $ 15,600 62,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 46,505 Factory Overhead Rates Cutting Stitching Sales 1508 of direct materials used 120% of direct labor used $ 256,000 Required information (The following information applies to the questions displayed below.) Sierra 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 Raw materials inventory $ 6,000 $ 3,250 Work in process inventory-Cutting 43,500 51,500 Work in process inventory-Stitching 63,300 60,500 Finished goods inventory 20,100 B, 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 $ 15,600 62,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 46,505 Factory Overhead Rates Cutting Stitching Sales 1508 of direct materials used 120% of direct labor used $ 256,000 4 May 31 Work in process inventory-Cutting Work in process inventoryStitching Factory wages payable >>> 15,600 62.400 78,000 5 May 31. 55,000 Factory overhead Factory wages payable 55,000 6 May 31 Factory overhead > 46,505 Cash 46.505 7 May 31 > 32,625 Work in process inventory-Cutting Work in process inventoryStitching Factory overhead 74,880 107,505 8 May 31 Work in process inventory-Stitching Work in process inventoryCutting 10 May 31 256.000 Accounts receivable Sales 256,000 11 May 31 Accounts receivable 8,250 Sales 8.250
