number 9,10,11

Required Information Problem 03-1A Production cost flow and measurement; Journal entries LO P1, P2, P3, P4 The following information applies to the questions displayed below! Sierra company manufactures toccer balls in two sequential processes Cutting and Sutching. All direct materials enter production at the beginning of the Cutting process. The following information is avantable regarding its May inventories: werk in Pretory-outting work process inventory stitching Finished goods Inventory Beginning Ending Inventory Inventory 73,500 75,500 90,00 69,00 26,100 14,250 The following additional Information descnbes the companys production activities for May Direct Roteriais purchased on credit binet materials used-cutting Direct naterials used-stitching $ 40,000 22,500 Dine labor Direct Labor-cutting Direct to stitching Total Factory Dayroll paid (in cash) 5 1.100 3,400 141,100 actory Overhead Cactus costs) Indirect materials used Indirect latoe used other overhead costs $14.40 55,600 50.000 Factory overhead lates Cutting (150% of direct materials used) stitching (120% of direct labor wed Sales $176,000 Problem 03-1A Part 2 2. Prepare summary Journal entries dated May 31 to record the following production activities during May (a) row materials purchases, (b) direct materials usage, Indirect materials usage, dj direct labor costs incurred, te indirect labor costs incurred.) payment of factory payrol, (gl other overhead costs.(credit Other Accounts), overhead applied in goods transferred from Cutting to Sutching.) goods transferred from Stitching to finished goods, cost of goods sold, and sales Problem 03-1A Part 2 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. (ej indirect labor costs incurred, payment of factory payroll, (g) other overhead costs. (credit Other Accounts), (h) overhead applied, goods transferred from Cutting to Sutching.) goods transferred from Stitching to finished goods. (k) cost of goods sold, and sales Raw materials inventory 14.400 4 May 31 Work in process inventory--Cutting Work in process inventory Stitching Factory wages payable 17.100 68,400 85,500 5 May 31 Factory overhead Factory wages payable 55,600 55 600 6 May 31 Factory wages payable Cash 141,100 141.100 7 May 31 Factory overhead Other accounts 50,000 50 000 8 May 31 Work in process inventory Cutting Work in process inventory--Stiching Factory overhead 33,750 82080 115,830 5 May 31 Work in process inventory Satching Work in process inventory-Cutting 10 May 31 Finished goods inventory Work in process inventory Stitching May 31 Cost of goods sold Finished goods inventory 12 May 31 Accounts receivable Sales 376 000 376.000