Help Save & Exit Check my 17 Required information [The following information applies to the questions displayed below.] Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter Part 2 of 2 production at the beginning of the Cutting process. The following information is available regarding its May inventories: Beginning Ending Inventory Inventory 11 Work in process inventory-Cutting 243 , 500 160 , 500 points Work in process inventory-Stitching 263 , 300 122 , 500 Finished goods inventory 60, 100 48 , 250 The following additional information describes the company's production activities for May. eBook Direct materials Raw materials purchased on credit $125, 000 Direct materials used-Cutting 26, 750 Print Direct materials used-Stitching Direct labor References Direct labor- Cutting $ 25 , 600 Direct labor-Stitching 102 , 400 Total factory payroll paid (in cash) 187, 000 Factory Overhead (Actual costs) Indirect materials used $ 75 , 600 Indirect labor used 59,000 Other overhead costs 67, 000 Factory Overhead Rates Cutting (1508 of direct materials used) Stitching (1208 of direct labor used) Sales $1 , 056, 000Check my wo 17 Required information The following information applies to the questions displayed below.] Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials enter Part 2 of 2 production at the beginning of the Cutting process. The following information is available regarding its May inventories: Beginning Ending Inventory Inventory 11 Work in process inventory Cutting 243 , 500 160 , 500 points Work in process inventory-Stitching 263, 300 122 , 500 Finished goods inventory 60, 100 48 , 250 The following additional information describes the company's production activities for May. eBook Direct materials Raw materials purchased on credit $125,000 Direct materials used-Cutting 26 , 750 Print Direct materials used-Stitching Direct labor References Direct labor-Cutting $ 25, 600 Direct labor-Stitching 102, 400 Total factory payroll paid (in cash) 187 , 000 Factory Overhead (Actual costs) Indirect materials used $ 75 , 600 Indirect labor used 59, 000 Other overhead costs 67, 000 Factory Overhead Rates Cutting (1508 of direct materials used) Stitching ( 1208 of direct labor used) Sales $1, 056, 000 McReturn to que is used Indirect labor used 59, 000 Other overhead costs 67, 000 Factory Overhead Rates Part 2 of 2 Cutting (150% of direct materials used) Stitching (1208 of direct labor used) Sales $1, 056 , 000 11 points 2. Prepare summary journal entries dated May 31 to record the following production activities during May: (a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage, (d) direct labor costs incurred, (e) indirect labor costs incurred, (f) payment of factory payroll, (g) other overhead costs, (credit Other Accounts), (h) overhead applied, (i) goods transferred from Cutting to Stitching, (j) goods transferred from Stitching to finished goods, (k) cost of goods sold, and (1) sales. X Answer is not complete. No Date General Journal Debit Credit May 31 Raw materials inventory 125,000 Accounts payable 125,000 2 May 31 Work in process inventory-Cutting Factory wages payable X C Pray