Williams 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:

Prepare journal entries for the month of May's transactions.

Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $136,000 303,500 323,300 280,100 Ending Inventory $165,550 64,500 190,500 60,250 The following additional information describes the company's production activities for May. Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-stitching $ 155,000 28,250 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 28,600 114,400 203,200 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 97,200 60,200 73,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $1,336,000