Required Informatlon [The following Information apples to the questions displayed below. Sierra Company manufactures woven blankets and accounts for product costs using process costing. Data below are for one of its processing departments. The following Information is avallable regarding its May Inventories Raw materials inventory work in process inventory Finished goods inventory Beginning Ending Inventory Inventory $ 59,ee0e 54,eee 404,eee 523,eee 606,800 560,00 The following additional Information describes the company's production activities for May Raw materials purchases (on credit) Factory wages cost (paid in cash) other overhead cost (other Accounts credited) Materials used $ 27e,eee 1,566,eee 76,0ee Direct Indirect $ 201,eee 74,8ee Labor used Direct Indirect $ 78e,eee 786,eee 120% Overhead rate as a percent of direct labor Sales (on credit) $5,5ee,eee The predetermined overhead rate was computed at the beginning of the year as 120% of direct labor cost