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 62,400 133,000 Factory Overhead (Actual costs Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 47,000 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 15,600 62,400 133,000 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 47,000 ces Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $256,800 Requirement General Journal General Ledger Trial Balance Raw Materials Cost of Goods Mfg Cutting Cost of Goods Mfg Stitching Cost of Goods Sold Gross Profit Prepare journal entries for the month of May's transactions. Journal entry worksheet k. Record the cost of goods sold, as calculated on the cost of goods sold tab. Note: Enter debits before credits Account Title Debit Credit Date May 31 Record entry Clear entry View general journal Journal entry worksheet 1 5 6 7 8 9 10 11 12 1. Record the sale of goods on account. Note: Enter debits before credits. Account Title Debit Credit Date May 31 Record entry Clear entry View general journal