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 $ 9,250 Work in process inventory-Cutting 43,500 51,500 Work in process inventory Stitching 63,380 60,500 Finished poods 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 S 15,600 Direct labor-Stitching 62,400 Factory Overhead Cactual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 46,505 Factory Overhead Rates Cutting Stitching (150x of direct materials used) (120% of direct labor used) Sales $ 256,000 tory. Overhead Rates Cutting Stitching (150% of direct materials used) (120% of direct labor used) 5 256,090 Sales General General Cost of Requirement Raw Cost of Trial Balance Cost of Journal Ledger Materials Goods Mfg Goods Mfg Goods Sold Gross Profit Cutting Stitching Verify the ending balance in raw materials inventory. Materials used should be indicated with a minus sign. Beginning Raw Materials inventory Materials available for use Ending raw material inventory