GL1601 - Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes. Cutting and Sitching. All direct materials enter production at the beginning of the Cutting process. The following information is avaitable regarding its May inventories: The following additional information describes the company's production activities for May. Factory Overhend Rates: Cutting (15ex of direct materials used) 5tlteling: (120k of direct labor used) Answer is not complete. \begin{tabular}{|c|c} \hline Cost of Goods MfQ Stitching & Goods Sold \\ \hline \end{tabular} Prepare journal entrins for the month of May's transactions. * Answer is not complete. Prepare journal entries for the month of May's transactions. GL1601. Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes. Cutting and Stitching. All direct materlals enter pro the beginning of the Cutting process. The following information is available regarding its May irventorles: The following additional information describes the company's production activities for May. Sales \begin{tabular}{l|l|} \hline Cost of \\ Goods Mfg \\ Stitiching & Coods of Sold \end{tabular} General Journal tab - joumalize the transactions related to Sierra Company's manufacturing of soccer balis. The Ceneral Ledger and Trial Balance with be updated based on your entries. Prepare fournal entries to record the trangations of isterra Company during the month of May. General Ledger tab - One of the advantages of general ledger software is that posting is doge aurornaticaly. To see the: detail of all transactions that affect a specific account, or the balance in an account at a specific point in tifise, click on the General Ledger tab. Trial Batance tab-General ledger software also automates the preparation of trial talances. A trial balance thsts each, account from the General Ledger, along with its balance, either a debit or a credit. Total debits thould alwaye equil total credits. Raw Materials tab - Calculate the total cost of direct materlats used in production during May. Cost of coods Manufactured Cutting and Stitching tab - Prepare a schedule of cont of goods manutactured for stere Company for the month of May. Cost of Goods Sold tab - Prepare a echedulo of cost of goods sold for Sienta Company for the month ct May. Gross Profit tab - Calculate the gross profit on sales for May. GL1601-Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balis 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 inventoties: The following additional information describes the company's production activities for May sales (x) Answer is not complete. Verify the ending bafance in raw materials inventory. Materiais used should be imdicated with a minus sign. GL1601 - Based on Problem 16-5A (Static) Sierra Compony LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes. Cutting and Stitching. All direct materiais enter production at the beginning of the Cutting process. The following information is avallable regarding its May irventories. The following additional information describes the company's production activities for May. Eactory Preerhead Rates cutting stitching (15ex af direct materials used) (12ex of direct labor used) Sales 5. 256,000. Prepare a schedule of cost of goods manufactured for the Cutting Department for the month of May. GL1601-Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes. Cutting and Stiching. All direct materials enter product the begining of the Cutting process. The following information is available regarding its May inventones The following additional information describes the company's production activities for May. Prepare a schedule of cost of goods manufactured for the stikcting Department for the month of May: GL1601 - Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materlals enter the beginning of the Cutting process. The following information is available regarding its May irventories: The following additional information describes the company's production activities for May. Factory ovarhend Rates cutting stitching (15ex of direct sateriols used) (120k of direct labor used) sales \$ 256,000 Calculate the value of cost of goods sold for the month of May. Ignore any over or underapplied overhead in the calculation of cost of goods sold. GL1601-Based on Problem 16-5A (Static) Sierro Company LO P3, P4 Sierra 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 available regarding its May inventories: The following additional information describes the company's production activities for May. Calculate the value of gross profit for the month of May. GL1601 - Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes. Cutting and Sitching. All direct materials enter production at the beginning of the Cutting process. The following information is avaitable regarding its May inventories: The following additional information describes the company's production activities for May. Factory Overhend Rates: Cutting (15ex of direct materials used) 5tlteling: (120k of direct labor used) Answer is not complete. \begin{tabular}{|c|c} \hline Cost of Goods MfQ Stitching & Goods Sold \\ \hline \end{tabular} Prepare journal entrins for the month of May's transactions. * Answer is not complete. Prepare journal entries for the month of May's transactions. GL1601. Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes. Cutting and Stitching. All direct materlals enter pro the beginning of the Cutting process. The following information is available regarding its May irventorles: The following additional information describes the company's production activities for May. Sales \begin{tabular}{l|l|} \hline Cost of \\ Goods Mfg \\ Stitiching & Coods of Sold \end{tabular} General Journal tab - joumalize the transactions related to Sierra Company's manufacturing of soccer balis. The Ceneral Ledger and Trial Balance with be updated based on your entries. Prepare fournal entries to record the trangations of isterra Company during the month of May. General Ledger tab - One of the advantages of general ledger software is that posting is doge aurornaticaly. To see the: detail of all transactions that affect a specific account, or the balance in an account at a specific point in tifise, click on the General Ledger tab. Trial Batance tab-General ledger software also automates the preparation of trial talances. A trial balance thsts each, account from the General Ledger, along with its balance, either a debit or a credit. Total debits thould alwaye equil total credits. Raw Materials tab - Calculate the total cost of direct materlats used in production during May. Cost of coods Manufactured Cutting and Stitching tab - Prepare a schedule of cont of goods manutactured for stere Company for the month of May. Cost of Goods Sold tab - Prepare a echedulo of cost of goods sold for Sienta Company for the month ct May. Gross Profit tab - Calculate the gross profit on sales for May. GL1601-Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balis 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 inventoties: The following additional information describes the company's production activities for May sales (x) Answer is not complete. Verify the ending bafance in raw materials inventory. Materiais used should be imdicated with a minus sign. GL1601 - Based on Problem 16-5A (Static) Sierra Compony LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes. Cutting and Stitching. All direct materiais enter production at the beginning of the Cutting process. The following information is avallable regarding its May irventories. The following additional information describes the company's production activities for May. Eactory Preerhead Rates cutting stitching (15ex af direct materials used) (12ex of direct labor used) Sales 5. 256,000. Prepare a schedule of cost of goods manufactured for the Cutting Department for the month of May. GL1601-Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes. Cutting and Stiching. All direct materials enter product the begining of the Cutting process. The following information is available regarding its May inventones The following additional information describes the company's production activities for May. Prepare a schedule of cost of goods manufactured for the stikcting Department for the month of May: GL1601 - Based on Problem 16-5A (Static) Sierra Company LO P3, P4 Sierra Company manufactures soccer balls in two sequential processes: Cutting and Stitching. All direct materlals enter the beginning of the Cutting process. The following information is available regarding its May irventories: The following additional information describes the company's production activities for May. Factory ovarhend Rates cutting stitching (15ex of direct sateriols used) (120k of direct labor used) sales \$ 256,000 Calculate the value of cost of goods sold for the month of May. Ignore any over or underapplied overhead in the calculation of cost of goods sold. GL1601-Based on Problem 16-5A (Static) Sierro Company LO P3, P4 Sierra 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 available regarding its May inventories: The following additional information describes the company's production activities for May. Calculate the value of gross profit for the month of May