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Cannot seem to get the correct answers on the following questions View transaction list Journal entry worksheet Record the sale of finished goods. Note: Enter

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Cannot seem to get the correct answers on the following questions

View transaction list Journal entry worksheet Record the sale of finished goods. Note: Enter debits before credits. Date General Journal Debit Credit May 31 Cost of goods sold Record entry Clear entry View general journal 2. Prepare summary journal entries dated May 31 to record the following production activities during May: materials purchases, (b) direct materials usage, (c) indirect materials usage, (d) direct labor costs incurred, labor costs incurred, (f) payment of factory payroll, (g) other overhead costs, (credit Other Accounts), (h) ove applied, (i) goods transferred from Cutting to Stitching, (i) goods transferred from Stitching to finished good goods sold, and (1) sales. Answer is not complete. No Credit Date May 31 General Journal Raw materials inventory Accounts payable Debit 25,000 25,000x) 2 May 31 Work in process inventory-Cutting Raw materials inventory 21,750 21,750 3 May 31 6,000 Factory overhead Raw materials inventory so so so 6,000 4 May 31 Work in process inventory-Cutting Work in process inventory-Stitching Factory wages payable 15,600 62,400 78,000 5 May 31. 55,000 Factory overhead Factory wages payable sko 55,000 May 31 Factory wages payable Cash 133,000 133,000 May 31 Factory overhead 047,000 47,000 May 31 Work in process inventory-Stitching Work in process inventory-Cutting Cash 74,880 32,625 107,505 9 May 31 61,975 Work in process inventory Stitching Work in process inventoryCutting 161,975 61,975 10 May 31 202,055 Finished goods inventory Work in process inventory-Stitching 202,055 11 May 31 213,905 Cost of goods sold Finished goods inventory 213,905 May 31 Cost of goods sold 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. Ignore any over- or under-applied overhead in the calculation of co goods sold. Answer is not complete. Work in Process (WIP) - Cutting 43,500 C of GM - Cutting 21,750 WIP - May 31 15,600 32,625 WIP - April 30 Direct materials - Cutting Direct labor - Cutting Overhead - Cutting 61,975 51,500 X Work in Process (WIP) - Stitching 63,300 WIP - May 31 61,975 C of GM - Stitching 62,400 74,880 WIP - April 30 C of GM - Cutting Direct labor - Stitching Overhead - Stitching 60,500 X 202,055 Finished Goods (FG) 20,100 Cost of goods sold 202,500 X FG - April 30 C of GM - Stitching 213,905 FG - May 31 8,695 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: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 43,500 51,500 63,300 60,500 20, 100 8,250 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 $25,000 21,750 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 15,600 62,400 133,000 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 47,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $256,000 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. Ignore any over- or under-applied overhead in the calculation of cost of goods sold. Answer is not complete

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