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can someone help please? Problem 03-1A Production cost flow and measurement, journal entries LO P1, P2, P3, P4 [The following information applies to the questions
can someone help please? Problem 03-1A Production cost flow and measurement, journal entries LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes. Cutting and Stitching. All direct naterials 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 Inventory 153,500 173,300 42,100 Ending Inventory 115,500 94,600 30,250 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 $ 30,000 24,500 olrect labor. Direct labor-cutting Direct labor-Stitching Total factory payroll paid (in cash) 21,100 14.40 162,700 Factory Overhead (Actual costs) Indirect materials used Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 43,200 52.200 58,000 Factory Overhead Rates Cutting (15ex of direct materials used) Stitching 12ex of direct labor used) Sales 5696,080 Problem 03-1A Part 1 Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b) production costs transferred from Stitching to finished goods, and (c) cost of goods sold. Work in Process (WIP) -Cutting Work in Process (WIP) - Stitching Finished Goods (FG)
can someone help please?
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