Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materials...
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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:
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1 Algorithmic Sierra Company manufactures soccer balls in two sequential processes Cutting and production at the beginning of the Cutting process. The following information is available Raw materials inventory Work in process inventory-Cutting Work in process inventory-Stitching Finished goods inventory Beginning Inventory $ 16,000 63,500 83.300 24, 100 Ending Inventory $17,950 70.500 66,700 12,250 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 $ 35,000 22,250 Direct labor Direct labor-Cutting Direct labor-Stitching Total factory payroll paid (in cash) $ 16,600 66,400 138,400 Factory Overhead (Astual costs) u l on activities Direct materials Raw materials purchased on credit Direct materials used-Cutting Direct materials used-stitching $ 35,000 22,250 Direct labor Direct labor-Cutting Direct labor-stitching Total factory payroll paid (in cash) $ 16,600 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 2 of 2 12 8 7 ... Journal entry worksheet
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