Panzarella Company manufactures soccer balls in two sequential proces.docx

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Panzarella 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 Work in process inventory-stitching Finished goods inventory Beginning Inventory $146,000 323,500 343,300 300,100 Ending Inventory $177,850 65,500 200,500 64,250 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 $ 165,000 28,750 Direct labor Direct labor-Cutting Direct labor- stitching Total factory payroll paid (in cash) $ 29,600 118,400 208,600 Factory Overhead (Actual costs) Indirect materials used Indirect labor used Other overhead costs $104,400 60,600 75,000 Factory Overhead Rates Cutting (150% of direct materials used) Stitching (120% of direct labor used) Sales $1,456,000 Journal entry worksheet < O ... @ O O O O 1 | W 12 > j.
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  • Fall '19
  • Le Materials Goods Mfg Goods

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