Kelley 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 $ 56,000 143,500 163,300 120,100 Ending Inventory $ 67,150 56,500 110,500 28,250 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 $ 75,000 24, 250 Direct labor Direct labor-Cutting Direct labor-Stitching $ 20,600 82,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 39,600 57,000 57,000 Factory Overhead Rates Cutting Stitching Sales (150% of direct materials used) (120% of direct labor used) $ 656,000 1 Record the purchase of materials (on credit). 2 Record direct materials used in production. 3 Record the usage of indirect materials. 4 Record the cost of direct labor incurred but not yet paid. (Use "Factory wages payable" account). 5 Record the cost of indirect labor incurred but not yet paid. (Use "Factory wages payable" account). 6 Record overhead costs paid in cash. Record the application of overhead at a rate of 150% of 8 Record the transferred costs of partially completed goods. 9 Record the transfer of production to finished goods, as calculated on the Cost of Goods Manufactured tab. 10 Record the cost of goods sold, as calculated on the cost of goods sold tab. 11 Record the sale of goods on account. 2 x May 31 24,250 Work in process inventory-Stitching Raw materials inventory 24,250 3 May 31 39,600 Factory overhead Raw materials inventory >> 39,600 4 May 31 Work in process inventory-Cutting Work in process inventoryStitching Factory wages payable 20,600 82,400 103,000 5 May 31 57,000 Factory overhead Factory wages payable 57,000 6 May 31 153,600 Factory overhead Cash 160,000 7 May 31 57,000 $ Factory overhead Other accounts 57,000 $ 8 May 31 Work in process inventory-Cutting Work in process inventory-Stitching Factory wages payable X X X 36,375 98,880 X 135,255 9 May 31 168,225 Work in process inventoryStitching Work in process inventory-Cutting 168,225 10 May 31 494,155 Cost of goods sold Finished goods inventory 494,155 11 May 31 656,000 Accounts receivable Sales 656,000 Dates: Apr 30 to: Apr 30 Kelley Company Trial Balance April 30, 2018 Account Title Credit Cash S Debit 140,000 704,000 67.150 537,055 374,055 32.250 307,200 75,000 Accounts receivable Raw materials inventory Work in process inventoryStitching Finished goods inventory Work in process inventory-Cutting Factory overhead Factory Equipment Accumulated depreciation - Factory equipment Accounts payable Other accounts Factory wages payable Common stock, $5 par value Paid-in capital in excess of par - Common Retained earnings Sales Cost of goods sold Total 15,000 577,000 57,000 295.255 50,000 44,000 294,900 656,000 494,155 2,356,810 $ IS 2,363,210 General Cost of General Cost of Raw Requirement Trial Balance Cost of Goods Mfg Goods Mfg Gross Profit Journal Ledger Materials Goods Sold Cutting Stitching Prepare a schedule of cost of goods manufactured for the Cutting Department for the month of May. Dates: Apr 30 to: Ap $ Direct materials used Direct labor used Factory overhead applied 24,250 103,000 135,255 X Total manufacturing costs added during May $ 262,505 Total cost of work in process General Cost of Cost of General Raw Requirement Trial Balance Cost of Journal Ledger Materials Goods Mfg Goods Mfg Gross Profit Cutting Stitching Goods Sold Prepare a schedule of cost of goods manufactured for the Stitching Department for the month of May. Dates: Apr 30 to: Apr 30 Total manufacturing costs added during May Total cost of work in process General General Raw Cost of Cost of Cost of Requirement Trial Balance Goods Mfg Goods Mfg Journal Gross Profit Ledger Materials Goods Sold Cutting Stitching 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. Dates: Apr 30 to: Apr 30 Calculate cost of goods sold: Cost of goods available for sale Cost of goods sold Gross Profit $ 0