GL$0301-$ Based on Problem $3-5$A $($Algo$)$ LO P$3,$ P$4$

Richards 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:

The following additional information describes the company's production activities for May.

Direct materials

Raw materials purchased on credit $$115,000$

Direct materials used$-$Cutting $26,250$

Direct materials used$-$Stitching

Direct labor

Direct labor$-$Cutting

Direct labor$-$Stitching

Factory Overhead $($Actual costs$)$

Indirect materials used

Indirect labor used

Factory Overhead Rates

Cutting

Stitching

Sales

Prepare journal entries for the month of May's transactions.

Journal entry worksheet

Record the purchase of materials $($on credit$).$

Note: Enter debits before credits.