[The following information applies to the questions displayed below.) 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: Kork in process inventory-cutting Work in process inventory-stitching Finished goods inventory Beginning Ending Inventory Inventory 213,500 245,500 233, 300 113,200 51,100 12.250 The following additional information describes the company's production activities for May areas materials Raw materials purchased on credit Direct materiale d-catting Direct materials used-stitching $110,000 26,000 Direct labor Direct labor-ang Direct Laboratstehing Total Factory payroll paid in cash) $ 24,100 96,400 170.900 Factory Overhead Actual con Indirect materials used Indirect or used Other overhead cost 064,800 50,400 64,000 Poetry Overhead Rates Cutting 30 of direct materials used) Sitching 320 of direct labore Sier 5936,000 Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching. (b) production costs transferred from Satching to fished goods, and (c) cost of goods sold. 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 Work in Process (WIP) Cutting 213,500 C of GM Cutting 26,000 WIP - April 30 Direct materials - Cutting Direct labor Cutting Overhead Cutting WP May 31 24.100 263,600 Work in Process (WIP) - Stitching 233,300 C of GM Stig WIP - April 30 of OMCutting Diecinto Sunching Od Suitching WIP May 31 233,300 Finished Goods (FG) Cost of goods sold TG April COM - Stitching FG Mayat