GL0301 - Based on Problem 3-5A (Algo) LO P3, P4 Byrnes 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: Raw materials inventory Work in process inventory-Cutting Ending Inventory Beginning Inventory $ 51,000 $ 61,000 133,500 153,300 56,000 105,500 110,100 26,250 Work in process inventory-Stitching Finished goods inventory 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 Direct labor Direct labor-Cutting Direct labor-Stitching Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $ 70,000 24,000 $ 20,100 80,400 $ 36,000 56,800 56,000