Required information Problem 3-5A (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 production at the beginning of the cutting process. The following information is available regarding its May invente Beginning Inventory Ending Inventory Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory $ 11,000 $ 11,800 53,500 65,500 73,300 63,600 22,100 10,250 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 labor $ 30,000 22,000 0 Direct labor-Cutting Direct labor-Stitching Factory Overhead (Actual costs) Indirect materials used $ 16,100 64,400 Indirect labor used Other overhead costs Factory Overhead Rates Cutting Stitching $ 7,200 55,200 48,000 150% of direct materials used 120% of direct labor used? Indirect labor used Other overhead costs Factory Overhead Rates. Cutting Stitching Sales 55,200 48,000 150% of direct materials used 120% of direct labor used $296,000 Problem 3-5A (Algo) Part 2 2. Prepare May 31 journal entries to record the following May activities: a. Raw materials purchases b. Direct materials used c. Indirect materials used d. Direct labor used e. Indirect labor used i f. Other overhead costs paid in cash g. Overhead applied h. Goods transferred from Cutting to Stitching Goods transferred from Stitching to finished goods Sales (on account) Cost of goods sold View transaction list Journal entry worksheet Part 2 of 2 25 points J. Jos on accuony k. Cost of goods sold View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 11 eBook References Record purchase of raw materials. Note: Enter debits before credits. Date May 31 General Journal Debit Credit Record entry Clear entry View general journal