Sierra Company manufactures soccer balls in two sequential processes: Cutting and stiching. all direct materials enter production at the beginning of the cutting process. The following information is available regarding its May inventories: the beginning of the Cutting process. The following information is available regarding its May inventories: Beginning Inventory $ 6,000 Ending Inventory Raw materials inventory $ 9,250 51,500 Work in process inventory-Cutting 43,500 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 $ 25,000 Raw materials purchased on credit Direct materials used-Cutting 21,750 Direct materials used-Stitching 0 Direct labor Direct labor-Cutting Direct labor-Stitching $ 15,600 62,400 Factory Overhead (Actual costs) Indirect materials used $ 6,000 Indirect labor used Other overhead costs 55,eee 46,505 Factory Overhead Rates Cutting Stitching (150% of direct materials used) (120% of direct labor used) Sales Requirement General General Journal Ledger Cost of Goods Mfg Raw Materials Cost of Goods Mfg Trial Balance Cutting Stitching Prepare journal entries for the month of May's transactions. View transaction list Journal entry worksheet < 11 Record the application of overhead at a rate of 150% of direct materials costs (Cutting) and 120% of direct labor cost (Stitching). Note: Enter debits before credits. Account Title Debit Credit Dato May 31 Work in process inventory Stitching Work in process inventory-Cutting Clear entry Record entry $ 256,000 62,000 Cost of Goods Sold 62,000 View general journal Gross Profit