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! Required Information [The following Information applies to the questions displayed below.] 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 Inventory $ 76,000 Ending Inventory $ 91,750 130,500 Raw materials inventory 183,500 Work in process inventory-Cutting Work in process inventory-stitching 203,300 103,900 Finished goods inventory 48,100 36,250 The following additional Information describes the company's production activities for May. Direct materials $ 95,000 Raw materials purchased on credit Direct materials used-cutting Direct materials used-stitching 25,250 0 Direct labor Direct labor-Cutting Direct labor-stitching Factory Overhead (Actual costs) Indirect materials used Indirect labor used other overhead costs Factory Overhead Rates cutting stitching Sales $ 22,600 90,400 $ 54,000 57,800 61,000 150% of direct materials used 120% of direct labor used $ 816,000 1 Record purchase of raw materials. 2 Record direct materials used in production. 3 Record indirect materials used in production. 4 Record direct labor cost incurred, but not yet paid. 5 Record indirect labor cost incurred, but not yet paid. 6 Record payment of other overhead. Record overhead applied at 150% of direct materials costs (Cutting) and 120% of direct labor cost (Stitching). LO 7 GRIVERS DATARAN WANGUSHT pleien ESTAVA 6 Record payment of other overhead. Record overhead applied at 150% of direct materials costs (Cutting) and 120% of direct labor cost (Stitching). 8 Record transfer of goods from the Cutting department to the Stitching department. 9 Record the transfer of completed products from production to finished goods inventory, 10 Record the sale of finished goods on account. 11 Record cost of goods sold for May

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