The following additional information describes the company's production activities for May. Record the purchase of materials (on credit). Record direct materials used in production. Record the usage of indirect materials. Record the cost of direct labor incurred but not yet paid. (Use "Factory wages payable" account). Record the cost of indirect labor incurred but not yet paid. (Use "Factory wages payable" account). Record overhead costs paid in cash. Record the application of overhead at a rate of 150% of Record the application of overhead at a rate of 150% of direct materials costs (Cutting) and 120% of direct labor cost (Stitching). 8 Record the transferred costs of partially completed goods. 9 Record the transfer of production to finished goods, as calculated on the Cost of Goods Manufactured tab. 10 Record the sale of goods on account. 11 Record the cost of goods sold, as calculated on the cost of goods sold tab. Verify the ending balance in raw materials inventory. Mate Prepare a schedule of cost of goods manufactured for the Cutting Depa Prepare a schedule of cost of goods manufactured for the Stitching Departn Calculate the value of cost of goods sold for the month of May. calculation of cost of goods sold. Calculate the value of gross profit for the month of May