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 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 Direct materials used-cutting Direct materials used-stitching $ 25,000 21,750 0 Direct labor Direct labor-Cutting Direct labor-stitching Total tactory payroll paid (in cash) $ 15,600 62,400 133,000 Yactory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,000 47,000 Factory Overhead Rates Cutting (1501 of direct materials used) Stitching (1201 of direct labor used) Sales 5256,000 Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b) production costs transferred from Stitching to finished goods, and (c) cost of goods sold. Ignore any over- or under-applied overhead in the calculation of cost of goods sold. Work in Process (WIP) - Cutting C of GM - Cutting WIP - April 30 Direct materials. Cutting Direct labor. Cutting Overhead - Cutting Work in Process (WIP) - Stitching C of GM - Sitching WIP - April 30 Direct labor. Stitching Overhead Stitching C of GM - Cutting WIP - May 31 Finished Goods (FO) Cost of goods sold FG - April 30 C of GM-Stitching FG - May 31