Required information Problem 16-1A 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: Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory and Beginning Inventory $ 36,000 103,500 123,300 32,100 Ending Inventory $42,550 90,500 79,100 20, 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 $ 55,000 23,250 Direct labor Direct labor-Cutting Direct labor-stitching Total factory payroll paid (in cash) $18.600 74.400 149,200 Factory Overhead (Actual costs) Indirect materials used Indirect laborused Other overhead costs $ 25, 200 56,200 53,000 Factory Overhead Rates Cutting (1501 of direct materials used) Stitching (1201 of direct laborused) Sales $496,000 Required information RM - April 30 RM purchases Raw Materials (RM) 36,000 55,000 WIP - April 3 Direct mater Direct labor Other overhe 91,000 Work in Process (WIP) - Stitching WIP - April 30 Direct materials - Cutting Direct labor - Cutting Other overhead costs Factory Overhead rint erences Income Statement (Partial) Cost of goods tra Cost of goods sol nformation Work In Process (WIP) - Cutting A WIP - April 30EAN Direct materials - Cutting Direct labor - Cutting Other overhead costs Factory Wages Payable 1 Finished Goods (FG) MINI Cost of goods transferred to Finished Goods Cost of goods sold JU View transaction list Journal entry worksheet