Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $ 6,000 Ending Inventory $ 9,250 43,500 63,300 20,100 51,500 60,500 8,250 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 Direct labor Direct labor-Cutting Direct labor-Stitching Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs. Factory Overhead Rates Cutting Stitching Sales $ 25,000 21,750 0 $ 15,600 62,400 $0,000 55,000 46,505 (150% of direct materials used) (120% of direct labor used) $ 256,000 4 May 31 Work in process inventory-Cutting 15,600 Work in process inventory-Stitching 62,400 Factory wages payable i 78,000 5 May 31 Factory overhead Factory wages payable 55,000 55,000 6 May 311 Fry overhead Other accounts 47,000 47,000x 7 May 31 Work in process inventory-Cutting 8 May 31 9 May 31 10. May 31 . 11 May 311 Work in process inventory-Stitching Factory overhead. Work in process inventory-Stitching Work in process inventory-Cutting Finished goods inventory Work in process inventory-Stitching Cost of goods sold Finished goods inventory Accounts receivable Sales 300 00 00 32,625 74,880 107,505 61,975 61,975 202,055 ( 202,055 213,905 256,000 213,905 O 256,000 Calculate cost of goods sold: Cost of goods manufactured Beginning work in process inventory Cost of goods available for sale Ending finished goods inventory Cost of goods sold $ 202,055 20,100 222,155 8,250 $ 213,905 Verify the ending balance in raw materials inventory. Materials used s Beginning Raw Materials Inventory Raw materials purchased Materials available for use Direct materials used Indirect materials used $ 69 6,000 25,000 31,000 21,750x 6,000 Ending raw material inventory $ 58,750 Journal entry worksheet < 1 2 3 4 5 6 7 8 11 Record overhead costs paid in cash. Note: Enter debits before credits. Date Account Title Debit Credit May 31 Factory overhead 47,000 Other accounts 47,000 Record the sale of goods on account. Note: Enter debits before credits. Date May 31 Account Title Debit Credit Cost of goods sold 213,905 Finished goods inventory 213,905 Record ontw Date Account Title Debit May 31 Accounts receivable 256,000 Sales Credit 256,000