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 Inventory Ending Inventory Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory $ 6,000 43,500 $ 9,250 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 Direct labor Direct labor-Cutting Direct labor-Stitching Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs Factory Overhead Rates Cutting Stitching Sales $ 25,000 21,750 0 $ 15,600 62,400 $ 6,000 55,000 46,505 150% of direct materials used 120% of direct labor used $ 256,000 2. Prepare May 31 journal entries to record the following May activities: a. Raw materials purchases b. Direct materials used c. Indirect materials used d. Direct labor used e. Indirect labor used f. Other overhead costs paid in cash g. Overhead applied h. Goods transferred from Cutting to Stitching i. Goods transferred from Stitching to finished goods j. Sales (on account) k. Cost of goods sold 1 No Date May 31 General Journal Debit Credit Raw materials inventory 25,000 Accounts payable 25,000 2 May 31 Work in process inventory-Cutting Raw materials inventory 3 May 31 Factory overhead Raw materials inventory 21,750 21,750 6,000 6,000 4 May 31 Work in process inventory-Cutting 15,600 Work in process inventory-Stitching 62,400 78,000 5 May 31. Factory overhead Factory wages payable 55,000 55,000 6 May 31 Factory wages payable x 133,000 Cash 133,000 7 May 31 Factory overhead 47,000 47,000 8 May 31 Work in process inventory-Stitching Work in process inventory-Cutting Factory overhead 74,880 x 32,625 x 107,505 9 May 31 Work in process inventory-Stitching 61,975 X Work in process inventory-Cutting 61,975 10 May 31 Cost of goods sold Finished goods inventory 11 May 31 Accounts receivable Sales 213,905 x 213,905 256,000 256,000