Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Inventory Inventory 213,500 145,500 233,300 113,200 54,100 42,250 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 $110,000 26,000 0 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 24,100 96,400 178,900 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 64,800 58, 400 64,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $936,000 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, (f) payment of factory payroll, (g) other overhead costs, (credit Other Accounts), (h) overhead applied, (1) goods transferred from Cutting to Stitching, () goods transferred from Stitching to finished goods, (k) cost of goods sold, and (1) sales. No Date General Journal Debit Credit 1 May 31 110,000 Raw materials inventory Accounts payable 178,900 X 2 May 31 213,500 X Work in process inventory-Cutting Raw materials inventory 110,000 x 3 May 31 Factory overhead Raw materials inventory 4 May 31 Work in process inventory-Cutting Factory wages payable x 5 May 31. Factory overhead Accounts payable x 6 May 31 Factory payroll payable Cash 7 May 31 Factory overhead Cash x 8 May 31 Work in process inventory-Cutting Accounts receivable x 9 May 31 X Finished goods inventory Cost of goods sold 10 May 31 Finished goods inventory Work in process inventory-Cutting 11 May 31 Accounts receivable X Sales x 12 May 31 Finished goods inventory Sales