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 balle 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 Inventorles. Beginning Ending Inventory Twentory Raw material inventory $ 16,000 $ 17,050 Work in process Inventory-cutting 63,568 78,500 Work in process Inventory-stitching 83.300 66,708 Finished goods Inventory 24,100 12,258 The following additional Information describes the company's production activities for May Directial Raw materiais purchased on chest Directorials used cutting Direct sterials used-stitching $35.ee 22,250 @ DICE Lab Direct labor cutting Dinct labor stitching 3 16.600 66,400 Factory Overhead Cactuar) dictatorials used Indirect labore Othee overhead cost $18. SS, 49.00 Factory Oh Rates Cutting Stitching ISEN OF 20 de and Sales Problem 20-SA (Algo) Part 1 Required: 1. Compute the amount of fol production costs referred from Cutting to Stitching, production contreferred from Sitching to finished goods and te cost of goods sold in Compute the total douton couts in each cepartment and then subtract the ending inventory to get the amount transferred out of schdeanthene a to work in hindi (A) Triested goods el Good Bing EN Tritory Inventory Rosaterials Inventory $ 16,000 $17,950 Work in process Inventory-cutting 63,500 70,00 Work in process Inventory Stitching 83,30 56,700 Fiath goods Inventory 24.180 12,250 The following additional information describes the company's production activities for May. DIN als Puterials purchased on credit S 35,00 Oct was used-Cutting 22,50 Directorials used stitching a DIET Direct Labutting $ 16,600 Direct laban stitching 66,400 Factory ACEST COLES) Indirect materials used $ 20,00 Indirect labore 55,400 Other Overhead costs 19,00 Factory Cutti 15 of direct materials used stitching 120 of din bord 335.000 Problem 20-SA (Algo) Part 2 2. Prepare May 31 journal entries to record the following May acties G. Raw materials purchases b. Direct materials used c. Indirect materials used d. Direct laborused e Indirect laborused Other overhead coats adh g. Overhead applied . Good transferred from Cutting to Sitching L. Goods transferred from Sitching to finished goods See on account k. Cost of goods sold View them Journal entry worksheet 2 2 H > Rond purchase or at Date Ganesi Journal Credit