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 63,300 60, 500 Finished goods inventory 20,180 8,250 The following additional information describes the company's production activities for Moy. Direct materinis Raw materials purchased on credit $ 25,000 Direct materials used-Cutting 21,750 Direct materials used-stitching Direct lobor Direct labor-cutting Direct labor-Stitching $ 15, 62,400 Factory Overhead (Actual costs) Indirect materials used Indirect obor used Other overhead costs $ 6,000 55,000 46,505 Factory Overhead Rates Cutting Stitching (250% of direct materials used) (120% of direct labor used Sales 5 256,000 Calculate the value of gross profit for the month of May. Dates: Apr 30 to: Apr 30 Gross Profit S 256.000 (213,905) 42,095 S