Required Informatlon The following formation applies to the questions displayed belowj 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 Inventory 183,5ee 203,300 43,102 Ending Inventory 130, see 103,9ee 36,250 The following additional Information describes the company's production activities for May, Direct materiais Raw materials purchased on credit Direct materials used-cutting Direct materials used-stitching $ 95,000 25, 250 Direct labor Direct labor-cutting Direct labor-stitching Total factory payroll paid (in casio $ 22,500 90,400 178,880 Factory Overhead (Actual costs) Indirect materials used Indirect Tabor used other overhead costs $ 54,800 57,800 61,000 Factory overhead Rates cutting (150% of direct materials used) Stitching (120% of direct labor used) sales $816,080 Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b) production costs transferred from Stitching to finished rods and ricost of riss horecs naterials Indirect labor used other overhead tosts 57,869 61,000 Overhead Rates cutting (150% of direct materials used) Stitching 20% of direct labor usledy Sales $816,00 Recured: 1. Compute the amount of (o) 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 Finished Goods (FG)