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Direct materials
Raw materials purchased on credit	$	170,000
Direct materials usedCutting		29,000
Direct materials usedStitching		0

Direct labor
Direct laborCutting	$	30,100
Direct laborStitching		120,400
Total factory payroll paid (in cash)		211,300

Factory Overhead (Actual costs)
Indirect materials used	$	108,000
Indirect labor used		60,800
Other overhead costs		76,000

Factory Overhead Rates
Cutting	(150% of direct materials used	)
Stitching	(120% of direct labor used	)
Sales	$1,516,000

a. Record the purchase of materials (on credit).

b. Record direct materials used in production.

c. Record the usage of indirect materials.

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

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

f. Record the payment of the total factory payroll.

g. Record the cost of other factory overhead costs (credit Other accounts).

h. Record the application of overhead at a rate of 150% of direct materials costs (Cutting) and 120% of direct labor cost (Stitching).

i. Record the transferred costs of partially completed goods.

j. Record the transfer of production to finished goods, as calculated on the Cost of Goods Manufactured tab.

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

l. Record the sale of goods on account.

Verify the ending balance in raw materials inventory. Enter the amount of materials used as negative values.

	Beginning Raw Materials Inventory Materials available for use Ending raw material inventory

Prepare a schedule of cost of goods manufactured for Fisher Company for the month of May.

	Total manufacturing costs added during May Total cost of work in process

The following additional information descobes the company's production activities for May Olect materials materials purchased on credit Direct materials used cutting Direct materials used-stitching $178,000 29.000 References Direct labor Direct Labor-cutting Direct Labor-stitching Total factory payroll paid (in cash) $ 30,00 128, 211,300 Factory Overhead (actuel costs) Indirect materials used Indirect labor used Other overhead costs $100,000 60,000 76,000 Factory overhead Rates Cutting (150% of direct materials used) Stithin (120% of direct labor used) Sales $1,516,00 Re General Journal Requirement General Ledger Trial Balance Gross Profit Cost of Cost of Goods Mfg Goods Sold Stitching Cost of Goods Mfg Cutting Materials Verify the ending balance in raw materials inventory. Enter the ar cost of Goods My Cutting bid as negative values Beginning Raw Materials Inventory Materials available for use Ending raw material inventory 1 home Father Company manufactures soccer balls in two sequential processes. Cutting and Satching. All direct material enter production the beginning of the Cutting process. The forowing information is available regarding its May inventores Deelne YE Inventory Inventory 115.000 114.00 ay I 333.00 6.000 In One-stitching 35.00 205 ile de ter 10,10 The following additional information describes the company's production activities for May $170,000 29,00 la chance Driting Det er at etching o Din The Director Direction stitching Totalcar para pica 1 30.10 120.000 21.NO G tot Tapetarial labe used overhead costs $100,000 60, 70,000 factors de Cutting (15 directorats sed Stiching (120 of direct labore $1.516.00 Total Material Ooit of cost of General General Cost Rumen Souma Goods Good Me Goods sold GP Leder Cutting Scing Prepare a schedule of cost of goods manufactured for Fisher Company for the month of May. Date Apr 30 Apr 30 Total medico de May Locoot of work in Raw Material Cost of Code Migching >

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