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Egert Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter production at the beginning of the Cutting process. The

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Egert 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: Rosaterials inventory Work in process inventory-Cutting Work in process inventory Stitching Finished goods inventory $ 21,000 $24,100 73, 53.ee 9375, C . 14,250 The following additional information describes the company's production activities for May Direct noterials Raw materials purchased on credit Direct materials used-Cutting Direct materials used stitching $ 40,000 22,500 Direct labor Direct labor cutting Direct labor-stitching Total factory payroll paid (in cash) $ 17, 100 68, 141,100 $ 14,00 Factory Overhead (Actual costs) Indirect waterials used Indirect labor used Other overhead costs 50,000 Factory Overhead Rates Cutting 15 Stitching Sales of direct materials used) (120% of direct labor used) a. Record the purchase of materials (on credit). Note: Enter debits before credits. Date Debit Credit May 31 Account Title Raw materials inventory Accounts payable b. Record direct materials used in production. Note: Enter debits before credits. Date Account Title Credit May 31 Work in process inventory-Cutting Raw materials inventory d. Record the cost of direct labor incurred but not yet paid. (Use "Factory wages payable" account). Note: Enter debits before credits. Date Account Title Debit Credit May 31 e. Record the cost of indirect labor incurred but not yet paid. (Use "Factory wages payable account). Note: Enter debits before credits Date Account Title Debit Credit May 31 h. 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 Date Account Title Debit Credit May 31 i. Record the transferred costs of partially completed goods. Note: Enter debits before credits Debit Credit May 31 j. Record the transfer of production to finished goods, as calculated on the Cost of Goods Manufactured tab. Note: Enter debits before credits Account Title Debit Credit May 31 k. Record the cost of goods sold, as calculated on the cost of goods sold tab. Note: Enter debits before credits Account Title Debit Credit Date May 31 6 7 8 9 10 11 I. Record the sale of goods on account. Note: Enter debits before credits Date Account Title Debit Credit May 31

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