GLO301 - Based on Problem 3.5A (Algo) LO P3, P4 Drake 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: Beginning Ending Inventory Inventory Raw materials inventory $ 126,000 $ 153,250 Work in process inventory-Cutting 283,500 63,500 Work in process inventory Stitching 303,300 180.500 Finished goods Inventory 260, 100 56,250 The following additional Information describes the company's production activities for May. Direct materials Raw materials purchased on credit $ 145,000 Direct materials used-Cutting 27.750 Direct materials used-stitching 0 Direct labor Direct labor-Cutting $ 27,600 Direct labor-Stitching 110,400 Factory Overhead (Actual costs) Indirect materials used $ 90,890 Indirect labor used 59, see other overhead costs 71,800 Factory Overhead Rates Cutting (15ex of direct materials used) stitching (12ex of direct labor used) Sales $1,216,eee Cost of Cost or General General Raw Cost of Requirement Trial Balance Gross Profit Journal Ledger Goods Mfg Goods Mig Materials Goods Sold Cutting Stitching Prepare a schedule of cost of goods manufactured for the Stitching Department for the month of May. Dates: Apr 30 to: Apr 30 Total manufacturing costs added during May Total cost of work in process