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, P2, P3, P4 The following information applies to the questions displayed below Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct production at the beginning of the Cutting process. The following information is available regarding its 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, 180 Ending Inventory $17,950 70,5ee 66,700 12.25e The following additional information describes the company's production activities for May $ 35,000 Direct materials Raw materials purchased on credit Direct materials used-cutting Direct materials used-stitching 22,250 Direct labor 12 of 2 Next > Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 16,600 66,400 138,400 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 Required information Required: Compute the amoont of (a) production costs transferred from Cutting to Stitching, bl production con finished goods, and (c) cost of goods sold Raw Materials (RM) W ork in Process (WIP) - Stitching Factory Overhead Prev 1 2 of 2 Next > ansferred from Stitching to Work In Process (WIP) - Cutting Factory Wages Payable Finished Goods (FG) 12 of 2 Next > Required information Factory Overhead Income Statement (Partial) Prev 2 of 2 Next > Finished Goods (FG) Cost of goods transferred Cost of goods sold Play 12 of 2 Next >