There are several parts to this problem please format answer in a similar fashion :) I will be sure to thumbs up

• 1

  Record the purchase of materials (on credit).

• 2

  Record direct materials used in production.

• 3

  Record the usage of indirect materials.

• 4

  Record the cost of direct labor incurred but not yet paid. (Use "Factory wages payable" account).

• 5

  Record the cost of indirect labor incurred but not yet paid. (Use "Factory wages payable" account).

• 6

  Record overhead costs paid in cash.

• 7

  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 cost of goods sold, as calculated on the cost of goods sold tab.

• 11

  Record the sale of goods on account.

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Callahan 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: Raw materials inventory work in process inventory-Cutting Work in process inventory-stitching Finished goods inventory Beginning Inventory $ 91,600 213,500 233,308 190,100 Ending Inventory $ 110, 200 60, eee 145,5ee 42,25 The following additional Information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 110,000 Direct materials used-cutting 26,000 Direct materials used-stitching Direct labor Direct labor-cutting $ 24,100 Direct labor-stitching 96,488 Factory Overhead (Actual costs) Indirect materials used $ 64,880 Indirect labor used 58,480 other overhead costs 64,888 Factory Overhead Rates Cutting stitching Sales (150% of direct materials used) (120% of direct labor used) $ 936,000 Cost of Cost of Requirement General General Raw Journal Trial Balance Cost of Ledger Materials Goods Mfg Goods Mfg Gross Profit Goods Sold Cutting Stitching Verify the ending balance in raw materials inventory. Materials used should be indicated with a minus sign. Beginning Raw Materials Inventory Materials available for use Ending raw material inventory Cost of Cost of General General Raw Cost of Requirement Trial Balance Goods Mfg Goods Mfg Gross Profit Journal Ledger Materials Cutting Stitching Goods Sold Prepare a schedule of cost of goods manufactured for the Cutting Department for the month of May. Dates: Apr 30 to: Apr 30 Total manufacturing costs added during May Total cost of work in process Cost of Cost of General General Raw Requirement Cost of Journal Trial Balance Gross Profit Ledger Goods Mfg Goods Mfg Materials Cutting Stitching Goods Sold Prepare a schedule of cost of goods manufactured for the Stitching Department for the month of May. Dates: Apr 30 to: Apr 30 Total manufacturing costs added during May Total cost of work in process Cost of Goods Mfg Cutting Cost of Goods Sold > Cost of Cost of General General Requirement Raw Trial Balance Goods Mfg Cost of Goods Mfg Gross Profit Journal Ledger Materials Cutting Stitching Goods Sold 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. Dates: Apr 30 to: Apr 30 Calculate cost of goods sold: Cost of goods available for sale Cost of goods sold Cost of Goods Mfg Stitching Gross Profit Sales $ 936,000 Cost of Goods Mfg Stitching Cost of Goods Sold Cost of General Requirement General Raw Trial Balance Goods Mfg Journal Materials Ledger Cutting Calculate the value of gross profit for the month of May. Gross Profit Dates: Apr 30 to: Apr 30 Gross Profit Cost of Goods Sold GEOUS Proti