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: Raw materials inventory Work in process inventory Cutting Work in process inventory-stitching Finished goods inventory Beginning Ending Inventory Inventory $ 6,000 $ 9,250 43,500 51,500 63,300 60,500 20,100 8,250 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 $ 25,000 21,750 Direct labor Direct laber-Cutting Direct labor-stitching Total factory payroll paid (in cash) $15.600 62,400 133,000 $ Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead coats 6.000 55,000 47.000 Factory Overhead Rates Cutting (1508 of direct materials used) Stitching (1208 of direct labor used) Sales $256,000 Required Compute the amount of production cost transferred from Cutting to Sunching production cost transferred from Senching to finished goods, and cost of goods sold. Ignore any over- or under-applied overhead in the calculation of cost of goods sold 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: Raw materials inventory Work in process inventory Cutting Work in process inventory-stitching Finished goods inventory Beginning Ending Inventory Inventory $ 6,000 $ 9,250 43,500 51,500 63,300 60,500 20,100 8,250 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 $ 25,000 21,750 Direct labor Direct laber-Cutting Direct labor-stitching Total factory payroll paid (in cash) $15.600 62,400 133,000 $ Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead coats 6.000 55,000 47.000 Factory Overhead Rates Cutting (1508 of direct materials used) Stitching (1208 of direct labor used) Sales $256,000 Required Compute the amount of production cost transferred from Cutting to Sunching production cost transferred from Senching to finished goods, and cost of goods sold. Ignore any over- or under-applied overhead in the calculation of cost of goods sold