ework 6 He Required information Problem 20-1A Production cost flow and measurement; journal entries LO P1, P2, P3, P4 . The following information applies to the questions displayed below. Sierra Company manufactures woven blankets and accounts for product costs using process costing. Deta below are for one of its processing departments. The following Information is available regardling its May Inventories Beginning Ending Inventory Invent Raw naterials inventory Work in proceas inventory Finished goods inventory 62,000 $103,500 435,000 583,000 626,000 575,000 The following additional information describes the company's production activities for May 280,000 1,566,000 Raw naterials purchases (on credit) Factory vages cost (paid in canh) Other overhead cost (other Accounta credited) Materials used 128,000 Direct Indirect S 172,500 66,000 Labor used Direct Indirect 800,000 766, 000 120% Overhead rate as a percent of direet labor Sales (on credit) 3,500,000 The predetermined overhead rate was computed at the beginning of the year as t20% of direct labor cost Problem 20-1A Part 2 Next > 4of7 Prev 57