GLO301 - Based on Problem 3-5A (Algo) LO P3, P4 Amidon 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 $ 41,000 113,500 133, 300 90, 100 Ending Inventory $ 49,700 55,000 95,500 22,250 The following additional information describes the company's production activities for May $ 60,000 23,500 0 Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-stitching Direct labor Direct labor-cutting Direct labor Stitching $ 19. 100 76,400 Factory Overhead Actual costs) Indirect materials used Indirect labor used S 28.800 56,400 Prey of 1 IR Nex AN F 23,500 Direct materials used-Cutting Direct materials used-stitching Direct labor Direct labor-cutting Direct labor-Stitching $ 19, 100 76,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used other overhead costs $ 29,800 56, 400 54,000 Factory Overhead Rates Cutting Stitching Sales (150% of direct materials used) (120% of direct labor used) $ 536,000 Requirement General Journal General Ledger Trial Balance Raw Materials Cost of Cost of Goods Mfg Goods Mfg Cutting Stitching Cost of Goods Sold Gross Profit Verify the ending balance in raw materials Inventory. Materials used sh Beginning Raw Materials Inventory Materials available for use $ 0 Ending raw material inventory Dates: Total manufacturing costs added during May Total cost of work in process Date Direct materials used $ Direct labor used Factory overhead applied 23,500 19,100 76,400 $ 119,000 Total manufacturing costs added during May Add: Beginning work in process inventory Total cost of work in process Less: Ending work in process inventory Calculate cost of goods sold: Cost of goods available for sale Cost of goods sold Gross Profit $ 0