Drake 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 $ 125,000 $ 153,250 Work in process inventory-cutting 283,5ee 63,500 Work in process inventory-stitching 303, 3ee 180,500 Finished goods Inventory 268,1ee 56,250 The following additional Information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 145,eee Direct materials used-cutting 27,758 Direct materials used-stitching 0 Direct labor Direct labor-cutting Direct labor-stitching $ 27,600 110,480 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 90,000 59,880 71,080 Factory Overhead Rates Cutting Stitching (15ex of direct materials used) (12ex of direct labor used) Sales $ 1,216,00 Requirement General Journal General Ledger Trial Balance Raw Cost of Cost of Goods Mfg Goods Mig Cutting Stitching Cost of Goods Sold Gross Profit Materials Prepare journal entries for the month of May's transactions. View transaction at Journal entry worksheet