Required information [We 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 Raw materials inventory 5 41,666 $ 48,?66 Work in process inventoryCutting 113,566 55,566 Work in process inventoryStitching 133,366 62,266 Finished goods inventory 34,166 22,256 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 56,666 Direct materials usedCutting 23,566 Direct materials usedStitching 6 Direct labor Direct laborCutting $ 15,166 Direct laborStitching TE,466 Factory Overhead (ctual costs) Indirect materials used $ 26,866 Indirect labor used 55,466 Other overhead costs 54,666 Factory Overhead Rates Cutting 156% of direct materials used Stitching 126% of direct labor used Sales $ 536,666 Required: 1. Compute the amount of {a} production costs transferred from Cutting to Stitching, {b} production costs transferred from Stitching to finished goods, and (glcost of goods sold. Hint: Compute the total production costs in each department and then subtract the ending inventory to get the amount tra nsferred out of ea ch department. (aJ Transferred to work in processStitching (o) Transferred to nished goods {o} Cost ofgoods sold