Journal entry worksheet Record purchase of raw materials. Note: Enter debits before credits. Date...
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Journal entry worksheet Record purchase of raw materials. Note: Enter debits before credits. Date General Journal Debit Credit May 31 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: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Ending Inventory Inventory 233,500 155,500 253,300 119,400 58,100 46,250 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 $120,000 26,500 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 25,100 100,400 184,300 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 72,000 58,800 66,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $1,016,000 Work in Process (WIP) - Cutting Work in Process (WIP) - Stitching Finished Goods
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