GLO301 - Based on Problem 3-5A (Algo) LO P3, P4 Clark 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 inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $ 76,000 183,500 203,300 160,100 Ending Inventory $ 91,750 58,500 130,500 36,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-stitching $ 95,000 25, 250 0 Direct labor Direct labor-Cutting Direct labor-Stitching $ 22,600 90,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 54,000 57,800 61,000 Factory Overhead Rates Cutting Stitching Sales (150% of direct materials used) (120% of direct labor used) $ 816,000 Answer is not complete. General Journal Requirement General Ledger Raw Materials Cost of Trial Balance Cost of Goods Mfg Cutting Cost of Goods Mfg Stitching Goods Sold Gross Profit Prepare a schedule of cost of goods manufactured for the Cutting Department for the month of May. Dates: Apr 30 to: Apr 30 $ Direct materials used Direct labor used Factory overhead applied ololo 25,250 22,600 33,900 X 81,750 Total manufacturing costs added during May Add: Beginning work in process inventory Total cost of work in roces Less: Ending work in process inventory GLO301 - Based on Problem 3-5A (Algo) LO P3, P4 Clark 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 inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $ 76,000 183,500 203,300 160,100 Ending Inventory $ 91,750 58,500 130,500 36,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-Stitching $ 95,000 25, 250 0 Direct labor Direct labor-Cutting Direct labor-Stitching $ 22,600 90,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 54,000 57,800 61,000 Factory Overhead Rates Cutting Stitching Sales (150% of direct materials used) (120% of direct labor used $ 816,000 Answer is not complete. Requirement General Journal General Ledger Trial Balance Raw Materials Cost of Goods Mfg Cutting Cost of Goods Mfg Stitching Cost of Goods Sold Gross Profit Prepare a schedule of cost of goods manufactured for the Stitching Department for the month of May. Dates: Apr 30 to: Apr 30 Direct materials used Direct labor used Factory overhead applied Total manufacturing costs added during May Add: Beginning work in process inventory Total cost of work in process Less: Ending work in process inventory