Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory anventury $106,000 243,500 263,300 60,100 ARVOLGUEY $ 128,650 160,500 122,500 48,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 125,000 Direct materials used-Cutting Direct materials used-Stitching 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 26,750 0 $ 75,600 59,000 67,000 Factory Overhead Rates Cutting Stitching Sales 150% of direct materials used 120% of direct labor used $1,056,000 Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b) production costs transferred from Stitching to finished goods, and (c) cost of goods sold. Hint: Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department. (a) Transferred to work in process Stitching (b) Transferred to finished goods (c) Cost of goods sold Noxt