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: Work in process inventory-cutting Work in process inventory-stitching Finished goods inventory Beginning Ending Inventory Inventory 183,500 130, 500 203,300 103,900 48,100 36,250 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 $ 95,000 25, 250 0 Direct Inbor Direct labor-cutting Direct labor-stitching Total factory payroll paid (in cash) 5 22.600 90,400 170,00 Tactory Overhead (Atual costa Indirect materials used Indirect labore Other overhead cout $ 54.000 57.000 01.000 Tactory Overhead Rates Cutting (150 of direct materials used) Stitching (1208 of direct labor used) Sales $816,000 Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b) production costs transferred from Stitching to finished goods, and (c) cost of goods sold. Work In Process (WIP). Cutting Work in Process (WIP) Stitching Flash Work in Process (WIP) - Stitching Finished Goods (FG)