Problem 20-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 [The following information applies to the questions displayed below.) Sierra Company manufactures 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 InventoryInventory Work in process inventory- 43,500 51,500 Cutting Work in process inventory- 63,300 60,500 Stitching Finished goods inventory 20, 100 8,250 The following additional information describes the company's production activities for May. $25,000 Direct materials Raw materials purchased on credit Direct materials used- Cutting Direct materials used- Stitching 21,750 0 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 15,600 62,400 133,000 Factory Overhead (Actual costs) Indirect materials $ 6,000 used Indirect labor used 55,000 Other overhead costs 47,000 Factory Overhead Rates Cutting (150% of direct materials used' Stitching (120% of direct labor) used Sales $256,000 No Answer is not complete. General Journal Raw materials inventory Accounts payable Date May 31 Credit Debit 25,000 1 25,000 2 May 31 21,7507 Work in process inventory-Cutting Raw materials inventory 21,750 3 May 31 6,000 Factory overhead Raw materials inventory oc 6,000 4 May 31 Work in process inventoryStitching Work in process inventory-Cutting Factory wages payable 5 May 31. 55,000 Factory overhead Factory wages payable 55,000 6 May 31 133,000 Factory wages payable Cash 133,000 7 May 31 47,000 Factory overhead Other accounts os 47,000 8 May 31 Work in process inventory-Cutting 32,625 Work in process inventoryStitching Factory overhead 9 May 31 Work in process inventoryStitching Work in process inventoryCutting 10 May 31 Finished goods inventory Work in process inventoryStitching so 9 May 31 Work in process inventoryStitching Work in process inventoryCutting SC 10 May 31 Finished goods inventory Work in process inventoryStitching 11 May 31 Cost of goods sold Finished goods inventory 12 May 31 256,000 Accounts receivable Sales 256,000