Required information Use the following information for the Exercises below. (Algo) [The following information applies to...

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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below)] Pro-Weave manufactures stadium blankets by passing the products through a weaving department and then a sewing department. The following information is available regarding its June inventories: Raw materials inventory Beginning Inventory Ending Inventory $146,000 $297,000 395,000 540,000 785,000 1,396,000) Work in process inventory-Weaving Work in process inventory-Seving Finished goods inventory 605,000 1,396,000 The following additional information describes the company's manufacturing activities for June: Raw materials purchases (on credit) Other actual overhead cost (paid in cash) Materials used $600,000 180,000 Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor $286,000 105,000 166,000 $1,250,000 430,000 1,650,000 Weaving Sewing Sales (on credit) 05 150% $ 5,050,000 Exercise 3-24 (Algo) Entries for transfer of goods across departments LO P4. Required: Exercise 3-24 (Algo) Entries for transfer of goods across departments LO P4 Required: 1. Compute the (a) cost of products transferred from weaving to sewing, (b) cost of products transferred from sewing to finished goods, and (c) cost of goods sold. Hint. Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department. 2. Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sewing to finished goods, (c) sale of finished goods, and (d) cost of goods sold. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the (a) cost of products transferred from weaving to sewing, (b) cost of products transferred from sewing to finished goods, and (c) cost of goods sold. (a) Transferred from Weaving to Sewing (b) Transferred from Sewing to Finished Goods (c) Cost of goods sold Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below)] Pro-Weave manufactures stadium blankets by passing the products through a weaving department and then a sewing department. The following information is available regarding its June inventories: Raw materials inventory Beginning Inventory Ending Inventory $146,000 $297,000 395,000 540,000 785,000 1,396,000) Work in process inventory-Weaving Work in process inventory-Seving Finished goods inventory 605,000 1,396,000 The following additional information describes the company's manufacturing activities for June: Raw materials purchases (on credit) Other actual overhead cost (paid in cash) Materials used $600,000 180,000 Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor $286,000 105,000 166,000 $1,250,000 430,000 1,650,000 Weaving Sewing Sales (on credit) 05 150% $ 5,050,000 Exercise 3-24 (Algo) Entries for transfer of goods across departments LO P4. Required: Exercise 3-24 (Algo) Entries for transfer of goods across departments LO P4 Required: 1. Compute the (a) cost of products transferred from weaving to sewing, (b) cost of products transferred from sewing to finished goods, and (c) cost of goods sold. Hint. Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department. 2. Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sewing to finished goods, (c) sale of finished goods, and (d) cost of goods sold. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the (a) cost of products transferred from weaving to sewing, (b) cost of products transferred from sewing to finished goods, and (c) cost of goods sold. (a) Transferred from Weaving to Sewing (b) Transferred from Sewing to Finished Goods (c) Cost of goods sold