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complete the journal entry and explain Part...

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Accounting

complete the journal entry and explain image
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Part 2 of 2 Work in process inventory-Cutting Work in process inventory-Stitching Finished goodo inventory Beginning Ending Inventory Inventory 63,500 70,500 83,300 66,700 24,100 12,250 25 points The following additional information describes the company's production activities for May oBook Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-stitching $ 35,000 22,250 0 References Direct labor Direct Labor-cutting Direct labor-stitching Total factory payroll paid (in cash) 96,600 66,400 138,400 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 10,800 55,400 49,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $336,000 9 ..... Record cost of goods sold for May. Note: Enter debits before credits Debit Credit Date General Journal May 31 Cost of goods sold Finished goods inventory +

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