Question

i need some corrections please

Problem 03-1A Production cost flow and measurement, journal entries LO P1, P2, P3, P4 The following information applies to the questions displayed below) Sierra 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: Work in process inventory-Cutting Work in process inventory-Stitching Finished goods Inventory Beginning Inventory 153,500 173,300 42,100 Ending Inventory 115,500 94,600 30,250 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 $ 30,000 24,500 Direct labor Direct labor-Cutting Direct labor-stitching Total factory payroll paid (in cash) $ 21,100 84,400 162,700 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other Overhead costs 543,200 57,200 55.000

Answer 1

Work in process (WIP)-Cutting
WIP-April 30	153,500	C of GM-Cutting	120,350
Direct materials-cutting	24,500
DL-Cutting	21,100
OH-cutting	36750
WIP-May 31	115,500

Work in process (WIP)-Stitching
WIP-April 30	173,300	Cof GM-Stitching	384,730
Cof GM-cutting	120,350
DL-stitching	84,400
OH-Stitching	101280
WIP-May 31	94,600

Finished goods
FG-April 30	42,100	COGS	396,580
C of GM-Stitching	384,730
FG-May 31	30,250

a)$120350

b)384730

c) 396580