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: 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 $ 25,000 Direct materials used-Cutting 21,750 Direct materials used-Stitching Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 15,609 62,400 133,000 Factory overhead (actual costs) Indirect materials used Indirect labor used Other overhead costs $ 6,000 55,00 47,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $256,000 Problem 20-1A Part 2 Part 2 of 2 2. Prepare summary journal entries dated May 31 to record the following production activities during May: (a) raw materials purchases, (b) direct materials usage. (c) indirect materials usage, (d) direct labor costs incurred, (e) indirect labor costs incurred, 0 payment of factory payroll. (g) other overhead costs, (credit Other Accounts). On) overhead applied. W goods transferred from Cutting to Stitching, goods transferred from Stitching to finished goods, (k) cost of goods sold, and sales. 16.66 Dots View transaction list Book Journal entry worksheet Record purchase of raw materials. References Nute Entretits before create General Journal Debit Credit Date May 31 Me 8