Carlberg 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: The following additional information describes the company's production activities for May journal entries for the month of May's transactio ournal entry worksheet 56 Record the purchase of materials (on credit). Enter debits before credits. (156\% of direct mat (120% of direct pare journal entries for the month of May's transactions. lournal entry worksheet 567 Record direct materials used in production. ote: Enter debits before creditsi. Prepare journal entries for the month of May's Journal entry worksheet 5 Record the usage of indirect materials. Note: Enter debits before credits. re joumal entries for the month of May's transactions. urnal entry worksheet 2 3 6 7 8 11 ecord the cost of direct labor incurred but not yet paid. (Use "Factory wages ayable" account). Enter debits before credits.: Prepare journal entries for the month of May's transactions. Journal entry worksheet Record the cost of indirect labor incurred but not yet paid. (Use "Factory wages payable" account). Note: Enter debits berore credits. Prepare journal entries for the month of May's trai Journal entry worksheet Record overhead costs paid in cash. Note: Enter debits before credits. Prepare journal entries for the month of May's transactions. Journal entry worksheet Record the application of overhead at a rate of 150% of direct materials costs (Cutting) and 120% of direct labor cost (Stitching). Note: Enter debits before credits. repare joumal entries for the month of May's transactions. Journal entry worksheet Record the transferred costs of partially completed goods. Votet Enver debits before creditan ads Sbitchin epare joumal entries for the month of May's transactions. Journal entry worksheet Record the transfer of production to finished goods, as calculated on the Cost of Goods Manufactured tab. Enter debits belaire credits. Journal entry worksheet Record the sale of goods on account. Note: Enter debits before credits; Prepare joumal entries for the month of May's transactions. Journal entry worksheet Record the cost of goods sold, as calculated on the cost of goods sold tab. Noted Enter debits bedore credits. The following additional information describes the companys pruduct Factory Overhead Rates Cutting (156\% of direct materials use stitching (120\% of direct labor use Sales Verify the ending balance in raw materials inventory. Materials Factory overinead Rates cutting (15es of direct materials used) stitching (120k of direct labor used) Sales \$. 456,000 Prepare a schedule of cost of goods mamufactured for the Cutting Department Factory Oyerhead Rates cutting (15es of direct materials used) (12as of direct labor used) stitching Sales 5456,609 Prepare a schedule of cost of goods manufactured for the Stitching Departme Factory Overhead Rates (150\% of direct materials us cutting Stitching (120\% of direct labor us Calculate the value of cost of goods sold for the month of May. calculation of cost of goods sold. The following additional information describes the company's produ Factory Overhead Rates cutting (15ex of direct materials u stitching (12as of direct labor u Sales Calculate the value of gross profit for the month of May
