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 gooda inventory Inventory Inventory 173,500 125,500 193,300 100,800 46,100 34,250 The following additional information describes the company's production activities for May. Direct naterials Raw materials purchased on credit Direct materials used-Cutting Direct naterials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash)) Factory Overhead (Actual costs). Indirect materials used Indirect labor used other overhead costs $50,400 57,600 60,000 $90,000 25,000 $ 22,100 68,400 168,100 Factory Overhead Rates Cutting Stitching Sales (150% of direct materials used) (120% of direct labor used) $776,000 Required: < Prev 3 4 of 4 Next >