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CoursHeroTranscribedText: The following information applies to the questions displayed borow! 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 Beginning Ending Inventory Inventory Work in process inventory Cutting 43,500 51.500 Work in process inventory Stitching 63,300 60,500 Finished goods inventory 20,108 8.258 The following additional information describes the company's production activities for May. Direct materials Row materials purchased on credit $ 25,009 Direct materials used Cutting 21,750 Direct materials used-Stitching Direct labor Direct Labor Cutting $ 15.609 Direct Labor Stitching 627400 Total factory payroll paid (in cash) 133,080 Factory Overhead (Actual costs) Indirect materials used Indirect Labor used 557080 Other overhead costs 47,080 Factory Overhead Rates Cutting (150% of direct materials used) Stitching 120% of direct labor used Sales $256,080Problem 20-1A Part 2 Part 3 or2 2. Prepare summary journal entries dated May 31 to record the following production activities during May: fal raw materials purchases, (o] direct materials usage, (c) indirect materials usage. (dj direct labor costs incurred, (e) indirect labor costs incurred, (] payment of factory payroll, igl other overhead costs, (credit Other Accounts) hj overhead applied, () goods transferred from Cutting to Stitching. I's goods brantlearned from Stitching to finished goods, (k) cost of goods sold, and $ sales. Wow Finsaction Ini Journal entry worksheet T 17 Record purchase of raw materials. May 31

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