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: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 223,500 150,500 243,300 116,300 56, 100 44,250 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 $115,000 26,250 0 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 24,600 98,400 181,600 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $68,400 58,600 65,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $976,000 150,500 WIP - April 30 Direct materials - Cutting Direct labor - Cutting Overhead - Cutting Total factory payroll Work in Process (WIP) - Cutting 223,500 WIP - May 31 26,250 24,600 39,375 163,225 116,300 WIP - April 30 C of GM - Cutting Direct labor - Stitching Overhead - Stitching FG - May 31 Work in Process (WIP) - Stitching 243,300 WIP - May 31 163,225 98,400 118,080 506,705 Finished Goods (FG) 56,100 Cost of goods sold 506,705 FG - April 30 C of GM - Stitching x FG - May 31 562,805