GL0301- Based on Problem 3-5A (Algo) LO P3, P4 Kennedy Company manufactures soccer balls in two sequential processes: Cutting and Sutching. All direct materials enter production at the beginning of the Cutting process. The following information is avallable regarding its May inventorles: The following addimonal information describes the company's production activities for May: 531s Answer is not complete. General Journal tab - Journalize the transactions related to Kennedy Company's manufacturing of soccer balls. The General Ledoer and Tral Balance will be updated based on your entries. Prepare journal entries to record the transactions of Kennedy Company during the month of May. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the bslance in an account at a specific point in time, click on the General Ledoer tab. Trial Balance tab - General fedger software also automates the preparation of trial balonces. A trial balance lists each account from the General Ledgec, along with its balance, either a debit or a credit. Total debits should always equal total credits Raw Materials tab - Calculate the total cost of direct matenals used in production during May. Prep General Ledger Aocount Kennedy Compony monufoctures soccer bolls in two sequentiol processes: Cutting ond Stitching. All direct moterials enter production ot the beginning of the Cutting process. The following information is availoble regarding its May inventories: The following odditionol infomotion describes the compony's production octivities for Moy. sates Answer is not complete. Verify the ending balance in raw materials inventory. Materials used should be indicated with a minus sign. GL0301 - Besed on Problem 3.5A (Algo) LO P3, P4 Kennecy Compony monufoctures soccer bolis in two sequentiol processes: Cutting ond Stitching. All direct materials enter production ot the beginning of the Cutting process. The following information is oveilable regording its Moy inventorles:' The following odcitional infomstion describes the compeny's production sctivities for Moy. Factory -overhehd 9 tice Lutintint stitehing (1ser or dipect matepials used) (120) of daroct labor used) salos Answer is not complete. Prepare a schedule of cost of goods manufactured for the Culting Department for the month of May. GL0301 - Based on Problem 3.5A (Algo) LO P3, P4 Kennedy Compeny manufoctures soccer balls in two sequentiol processes: Cutting ond Stitching. All direct moterials enter production ot the beginning of the Cutting process. The following informotion is ovailoble regarding its May inventories: The following odditionol information dezcribes the compony's production activities for May. Q. Answer is not complete. Prepare a schedule of cost of goods manufactured for the Sthching Department for the month or May. GL0301- Based on Problem 3.5A (Algo) LO P3, P4 Kennedy Compeny menufoctures soccer bolls in two sequentiol processes: Cutting and Stitching. All direct materials enter prodiction st the beginning of the Cuting process. The following informotion is ovsiloble regording its Moy inventories: The following oditionel information describes the compony's production octivities for May. Sales A Answer is not complete. Calculate the value of cost of goods sold for the month of May. Ignore any over-or underapplied overhead in the caiculation of cest of goods sold. GL0301. Based on Problem 3.5A (Algo) LO P3, P4 Kengedy Compeny monufoctures soccer bolls in two sequentiol proces ses. Cutting and Stitching. All direct moterials enter production ot the begincing of the Cutting process. The following informotion is ovsilable regoroing its Moy inventories: The following odditional information cescribes the compony's production octivities for May. Calculate the value of gross profit for the month of Mar. GL0301- Based on Problem 3-5A (Algo) LO P3, P4 Kennedy Company manufactures soccer balls in two sequential processes: Cutting and Sutching. All direct materials enter production at the beginning of the Cutting process. The following information is avallable regarding its May inventorles: The following addimonal information describes the company's production activities for May: 531s Answer is not complete. General Journal tab - Journalize the transactions related to Kennedy Company's manufacturing of soccer balls. The General Ledoer and Tral Balance will be updated based on your entries. Prepare journal entries to record the transactions of Kennedy Company during the month of May. General Ledger tab - One of the advantages of general ledger software is that posting is done automatically. To see the detail of all transactions that affect a specific account, or the bslance in an account at a specific point in time, click on the General Ledoer tab. Trial Balance tab - General fedger software also automates the preparation of trial balonces. A trial balance lists each account from the General Ledgec, along with its balance, either a debit or a credit. Total debits should always equal total credits Raw Materials tab - Calculate the total cost of direct matenals used in production during May. Prep General Ledger Aocount Kennedy Compony monufoctures soccer bolls in two sequentiol processes: Cutting ond Stitching. All direct moterials enter production ot the beginning of the Cutting process. The following information is availoble regarding its May inventories: The following odditionol infomotion describes the compony's production octivities for Moy. sates Answer is not complete. Verify the ending balance in raw materials inventory. Materials used should be indicated with a minus sign. GL0301 - Besed on Problem 3.5A (Algo) LO P3, P4 Kennecy Compony monufoctures soccer bolis in two sequentiol processes: Cutting ond Stitching. All direct materials enter production ot the beginning of the Cutting process. The following information is oveilable regording its Moy inventorles:' The following odcitional infomstion describes the compeny's production sctivities for Moy. Factory -overhehd 9 tice Lutintint stitehing (1ser or dipect matepials used) (120) of daroct labor used) salos Answer is not complete. Prepare a schedule of cost of goods manufactured for the Culting Department for the month of May. GL0301 - Based on Problem 3.5A (Algo) LO P3, P4 Kennedy Compeny manufoctures soccer balls in two sequentiol processes: Cutting ond Stitching. All direct moterials enter production ot the beginning of the Cutting process. The following informotion is ovailoble regarding its May inventories: The following odditionol information dezcribes the compony's production activities for May. Q. Answer is not complete. Prepare a schedule of cost of goods manufactured for the Sthching Department for the month or May. GL0301- Based on Problem 3.5A (Algo) LO P3, P4 Kennedy Compeny menufoctures soccer bolls in two sequentiol processes: Cutting and Stitching. All direct materials enter prodiction st the beginning of the Cuting process. The following informotion is ovsiloble regording its Moy inventories: The following oditionel information describes the compony's production octivities for May. Sales A Answer is not complete. Calculate the value of cost of goods sold for the month of May. Ignore any over-or underapplied overhead in the caiculation of cest of goods sold. GL0301. Based on Problem 3.5A (Algo) LO P3, P4 Kengedy Compeny monufoctures soccer bolls in two sequentiol proces ses. Cutting and Stitching. All direct moterials enter production ot the begincing of the Cutting process. The following informotion is ovsilable regoroing its Moy inventories: The following odditional information cescribes the compony's production octivities for May. Calculate the value of gross profit for the month of Mar