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: Begin En Inventory Inventory work in process inventory Cutting 11.50 145,00 Work in process inventory stitching 233,300 111.21 Finished goods inventory 54.100 42,250 The following additional information describes the company's production activities for May. Direct waterials Raw materials purchased on credit $310.00 Direct materials used-cutting 26.000 Direct materials used Stitching Direct labore Direct laber Cutting Direct labor-stitching Total factory payroll aid in cash) 1 24.100 96.400 178,500 Factory Overhead Cactual costs) Indirect aterials used Indirect labor wed Other overhead costs 154,10 SN, 54.000 Factory Overhead Rates Cutting (15ak of direct materials used) Stitching (120of direct laber used) Sales 3930, Problem 16-1A Part 2 2. Prepare summary journal entries dated May 31 to record the following production activities during May (6) raw materials purchases. (b) direct materials usage. (c) indirect materials usage. (d) direct labor costs incurred. (e) Indirect labor costs incurred, payment of factory payroll, (gother overhead costs. (credit Other Accounts). (h) overheed applied, goods transferred from Cutting to Sunching, goods transferred from Stitching to finished goods, cost of goods sold and sales Viewractional Journal entry worksheet 1 2 3 4 5 6 7 12 > Record purchase of raw material Note Entre General Journal Dobit Credit May 31 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: Begin En Inventory Inventory work in process inventory Cutting 11.50 145,00 Work in process inventory stitching 233,300 111.21 Finished goods inventory 54.100 42,250 The following additional information describes the company's production activities for May. Direct waterials Raw materials purchased on credit $310.00 Direct materials used-cutting 26.000 Direct materials used Stitching Direct labore Direct laber Cutting Direct labor-stitching Total factory payroll aid in cash) 1 24.100 96.400 178,500 Factory Overhead Cactual costs) Indirect aterials used Indirect labor wed Other overhead costs 154,10 SN, 54.000 Factory Overhead Rates Cutting (15ak of direct materials used) Stitching (120of direct laber used) Sales 3930, Problem 16-1A Part 2 2. Prepare summary journal entries dated May 31 to record the following production activities during May (6) raw materials purchases. (b) direct materials usage. (c) indirect materials usage. (d) direct labor costs incurred. (e) Indirect labor costs incurred, payment of factory payroll, (gother overhead costs. (credit Other Accounts). (h) overheed applied, goods transferred from Cutting to Sunching, goods transferred from Stitching to finished goods, cost of goods sold and sales Viewractional Journal entry worksheet 1 2 3 4 5 6 7 12 > Record purchase of raw material Note Entre General Journal Dobit Credit May 31
