Required information. [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 Ending Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Inventory Inventory 173,500 125,500 193,300 46,100 100,000 34,250 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 $ 90,000 25,000 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) Factory Overhead (Actual costs) Indirect materials used Indirect labor used $ 50,400 57,600 Other overhead costs 60,000 $ 22,100 88,400 168,100 Factory Overhead Rates Cutting Stitching Sales (150% of direct materials used) (120% of direct labor used) $776,000 Required: < Prev 34 of 4 Next >