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 Inventory Inventory Work in process inventory-Cutting 103,500 Work in process inventory-Stitching 123,300 Finished goods inventory 20,250 90,500 79,100 32, 100 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 $55,000 23,250 0 Direct labor Direct labor-Cutting Direct labor-stitching Total factory payroll paid (in cash) $ 18,600 74,400 149,200 Factory Overhead (actual costa) Indirect materials used Indirect laborused Other Overhead costa $ 25, 200 56,200 53,000 Factory Overhead Rates Cutting 11508 of direct materials used) stitching (120 of direct labor used) Sales 3496.000 2. Prepare summary Journal entries dated May 31 to record the following production activities during May: (a) raw materials purchases, (b) direct materials usage. (c) indirect materials usage, (d) direct labor costs incurred, (e) Indirect labor costs incurred, ( payment of factory payroll, (g) other overhead costs, (credit Other Accounts), (h) overhead applied, 0 goods transferred from Cutting to Stitching, goods transferred from Stitching to finished goods, (k) cost of goods sold, and (1) sales. View transaction llat Journal entry worksheet 2 6 7. 8 12 Record purchase of raw materials, Note Enter Gebits before credits Date General Journal Debit Credit May 31 Record entry Clear entry View general journal