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 $ 6,000 $ 3,250 Work in process inventory-Cutting 43,500 51,500 Work in process inventory-stitching 63,300 60,500 Finished goods inventory 20,100 8,250 The following additional information describes the company's production activities for May, Direct materials Raw materials purchased on credit $ 25,000 Direct materials used-cutting 21,750 Direct materials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 15,600 62,480 133,000 Factory Overhead (Actual costs) Indirect materials used Tarot $6,000 6 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 47,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $256,000 Dates: Apr 30 to: Apr 30 X $ 202,055 Calculate cost of goods sold: Cost of goods manufactured Ending work in process inventory Cost of goods available for sale Ending finished goods inventory Cost of goods sold $ 213,905 Cost of Goods Mig Stitching Gross Profit >