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:

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Required information Problem 20-1A Production cost flow and measurement; journal entries LO P1 [The following information applies to the questions displayed below.) Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitch production at the beginning of the Cutting process. The following information is available Raw materials inventory Work in process inventory-Cutting Work in process inventory Stitching Finished goods inventory Beginning Inventory $16,000 63,500 83,300 24, leo Ending Inventory $17,950 70.500 66,700 12,250 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 5 35.000 22,250 Direct Tab 12 of 2 Next > Saved Check my work mode : This shows what is correct or incorrect for the work yo The following additional information describes the company's production Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-stitching $ 35,000 22,250 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 16,699 66,490 138, 40e Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 10,800 55,400 49,000 Raw materials purchased on credit Direct materials used-Cutting Direct materials used-stitching $ 35,00 22,250 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 16,689 66,480 138,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 10,800 55,400 49,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $336,000 Piex1 2 of 2 Competeu su Tor. It does Required information RM - April 30 RM purchases RM - May 31 Raw Materials (RM). 16.000 Indirect materials used 35.000 Direct materials - Cutting 17.950 22 250 10.800 35.900 219 430 WIP - April 30 Direct materials - Stitching Direct labor. Cutting Overapolled overhead - Cutting % $ Work in Process (WIP) Stitching 83.300 Cost of goods sold 66,400 56.750 79,680 66.700 Factory Overhead 1 2 of 2 Next > id Windows to be a 9 W WORMode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate com quired information 56750 WIP - April 30 Direct materials - Cutting Direct labor - Cutting Overapplied overhead - Cutting WIP - May 31 Work In Process (WIP) - Cutting 63.500 Cast of goods sold 22.250 16 600 24.900 X 70 500 Factory Wages Payable 138 400 66400 16.600 55,400 o Finished Goods (FG) Prev 1 2 of 2 Next > Check my work mode: This shows what is correct or incorrect for the work you have completed so far, it does Required information 56,700 Indirect materials used Factory Overhead 10,800 Overapplied overhead - Cutting 55,400 Overapplied overhead - Stitching 49,000 79,6803 56.750 Indirect laborused Other overhead costs Income Statement (Partial) Sales 5 Cost of goods sold $ Gross profit 336.000 231.280 567 280 12 of 2 Next > UNELUI Morrect for the work you have completed so far. It does not indicate compli Finished Goods (FG) 24.100 219.4303 12.250 FG - April 30 Cost of goods sold FG - May 31 231.280 24.500 Cost of goods transferred Cost of goods sold $ $ 210,050 3 125.950 & 12 of 2 Next >