Prepapre journal entries for the month of May's transactions. Sierra...
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Accounting
Prepapre journal entries for the month of May's transactions.
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 Raw materials inventory $ 6,000 $ 9,250 Work in process inventory-cutting 43,500 51,500 Work in process inventory-stitching 63,300 60,500 Finished goods inventory 20,100 8,250 The following additional Information describes the company's production activities for May. Direct materials Raw materiale purchased on credit $ 25,000 Direct materials used-cutting 21,750 Direct materials used-stitching Direct labor Direct labor Cutting Direct labor-stitching $ 15,60 62,400 Factory Overhead (Actual costs Indirect materials used Indirect labor used Other overhead costs $ 6,000 55.000 46,505 Factory Overhead lates Cutting stitching (1504 of direct materials used) (1201 of direct labor used) Salon 5 256,000 Requirement General Journal General Ledger Trial Balance Raw Materials Cost of Goods Mrg Cutting Cost of Goods Mfa Stitching Cost of Goods Sold Gross Profit Prepare journal entries for the month of May's transactions

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