Pelcher 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: Beginning Ending Inventory Inventory Raw materials inventory $ 106,000 $ 128,650 Work in process inventory-Cutting 243,500 61,500 Work in process inventory-Stitching 263,300 160,500 Finished goods inventory 220,100 48,250 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 $ 125,000 26,750 Direct labor Direct labor-Cutting Direct labor-Stitching $ 25,600 102,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 75,600 59,000 67,000 Factory Overhead Rates Cutting Stitching (150% of direct materials used) (120% of direct labor used) Sales $ 1,056,000 Goods Sold Gross Profit General Raw General Requirement Cost of Cost of Journal Ledger Trial Balance Cost of Goods Mfg Goods Mfg Materials Cutting Stitching General Journal tab - Journalize the transactions related to Pelcher Company's manufacturing of soccer balls. The General Ledger and Trial Balance will be updated based on your entries. Prepare journal entries to record the transactions of Pelcher Company during the month of May. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Raw Materials tab - Calculate the total cost of direct materials used in production during May. Cost of Goods Manufactured Cutting and Stitching tab - Prepare a schedule of cost of goods manufactured for Pelcher Company for the month of May. Cost of Goods Sold tab - Prepare a schedule of cost of goods sold for Pelcher Company for the month of May. Gross Profit tab - Calculate the gross profit on sales for May