Fisher Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materlals enter production at the beginning of the Cutting process. The following information is avallable regarding its May inventorles The followng additional information describes the company's production activtles for May sutithing (150x of direct materlats used) (120x of direct labor used) Sales $1,516,000 General Journal tab - Journalize the transactions related to Fisher Company's manufacturing of soccer balls. The General Ledger and Trial Balance will be updated based on your entries. Prepare journal entries to record the transactions of Fisher Company during the month of May. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Raw Materials tab - Calculate the total cost of direct materials used in production during May. Cost of Goods Manufactured Cutting and Stitching tab - Prepare a schedule of cost of goods manufactured for Fisher Company for the month of May. Cost of Goods Sold tab - Prepare a schedule of cost of goods sold for Fisher Company for the month of May. Gross Profit tab-Calculate the gross profit on sales for May. The followng additional Information describes the company's production activtles for May. Fidotory Owerhesd fistes Cutilieg siluteling (15ex of direct naterlals used) (12ex of direct labor used) sinitis Verify the ending balance in raw materials inventory. Materials used should be indicated with a minus sign. The following additional information describes the company's production activities for May Cactury overifeded Ralest CuLLia (156x of dinect materials used) 5tituhing (126x of direct labor used) sates \$. 2.526,063 Prepare a schedule of cost of goods manufactured for the Cutting Department for the month of May. The followng additional information describes the company's production activities for May: cutting stitehing (15es ot dinect matarials used) (12ex ot lirect labor used) Sales 51,1516,60 Prepare a schedule of cost of goods manufactured for the Stitching Department for the month of May: The followng additional Information describes the company's production activtles for May. Factory overthead Ratees Cutting (159x of direct materials used) stitening (1298 of direct labor used) Sales Calculate the value of cost of goods sold for the month of May. Ignore any over-or underapplied overhead in the calculation of cost of goods sold. The following additional information describes the company's production activitles for May. Calculate the value of gross profit for the month of May