Stam 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: The following additional information describes the company's production activities for May. General Journal tab - Journalize the transactions related to Stam Company's manufacturing of soccer balls. The General Ledger and Trial Balance will be updated based on your entries. Prepare journal entries to record the transactions of Stam Company during the month of May. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the balance in an account at a specific point in time, click on the General Ledger tab. Trial Balance tab - General ledger software also automates the preparation of trial balances. A trial balance lists each account from the General Ledger, along with its balance, either a debit or a credit. Total debits should always equal total credits. Raw Materials tab - Calculate the total cost of direct materials used in production during May. Cost of Goods Manufactured Cutting and Stitching tab - Prepare a schedule of cost of goods manufactured for Stam Company for the month of May. Cost of Goods Sold tab - Prepare a schedule of cost of goods sold for Stam Company for the month of May. Gross Profit tab - Calculate the gross profit on sales for May. Prepare journal entries for the month of May's transactions. Journal entry worksheet Note: Enter debits before credits. Prepare journal entries for the month of May's transactions. Journal entry worksheet 456 Record direct materials used in production. Note: Enter debits before credits. Prepare journal entries for the month of May's transactions. Journal entry worksheet Prepare a schedule of cost of goods manufactured for the Cutting Department for the month of May. Prepare a schedule of cost of goods manufactured for the Stitching Department for the month of May. Calculate the value of cost of goods sold for the month of May. Ignore any over-or underapplied overhead in the calculation of cost of goods sold. Calculate the value of gross profit for the month of May