Ch 20: Homework-GRADED 3 1 Part 2 of 2 14.28 10 10 Problem 20-5A (Algo) Production cost flow and measurement; journal entries LO 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 materials enter production at the beginning of the cutting process. The following information is available regarding its May Inventories. Raw materials purchased on credit Birect materials and-Cutting Direcs materials and-stitching Direct Raw materials inventory Work in process inventary-Cutting Work in process inventory-stitching 160,500 122,500 Finished goods inventary 48,250 The following additional information describes the company's production activities for May Cutting Punching Fucsory Overhead (Actual musta) Indirect Leber und e-Cutting View 1 Journal entry worksheet May 31 $ 25,600 102,400 2 Problem 20-5A (Algo) Part 2 2. Prepare May 31 joumal entries to record the following May activities: & Raw materials purchases b. Direct materials used c. Indirect materials used d. Direct labor used e. Indirect labor used 1. Other overhead costs paid in cash g. Overhead applied h. Goods transferred from Cutting to Stitching & Goods transferred from Senching to finished goods 3. Sales (on account) k. Cost of goods sold 3 Record entry 4 Record purchase of raw materials. Inventory $ 106,000 5 250% of direct materials used 1201 of direct labor used $1.056.000 General Jomal Clear entry 247,500 263,300 60,100 0.125,000 26,730 0 $ 75,600 59,000 7,000 Ending Inventory $ 120,630 6 7 B w*** Debit 11 Credid > View general journal

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Problem 205 a (Algo) Part 2