Required information Problem 20-5A (Algo) Production cost flow and measurement; journal entries LO 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 Inventory $ 66,000 Ending Inventory $ 79,450 120,500 Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory 163,500 183,300 44,100 97,700 32,250 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 lobor Direct labor-Cutting Direct labor-Stitching Factory Overhead (Actual costs) $ 21,600 86,400 $ 85,000 24,750 0 S Novt