Exercise 16-15 Recording product cost

1. Prepare journal entries dated June 30 to record

Use the following information for the Exercises below. (The following information applies to the questions displayed below) Pro Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 140,000 305,000 645,000 1,436,000 Ending Inventory $ 225,000 395,000 705,899 1,336,000 The following additional information describes the company's manufacturing activities for June $570,000 3,220,000 190,000 Raw materials purchases (on credit) Factory payroll cost (paid in cash) other factory overhead cost (Other Accounts credited) Materials used Direct heaving Direct+Sewing Indirect Labor used Direct leaving Direct-sewing Indirect overhead rates as a percent of direct labor Weaving Sewing $ 304,000 120,000 152.000 $1,300,000 450,000 1,600,000 SON 155% 1 Record the purchase of raw materials on account. 2 Record the usage of direct materials. 3 Record the usage of indirect materials. 4 Record the cost of direct labor incurred, but not yet paid. 5 Record the cost of indirect labor incurred, but not yet paid. 6 Record the cost of other overhead (credit Other accounts). 7 Record the application of overhead. X 2 Record the usage of direct materials. 3 Record the usage of indirect materials. 4 Record the cost of direct labor incurred, but not yet paid. 5 Record the cost of indirect labor incurred, but not yet paid. 6 . Record the cost of other overhead (credit Other accounts). 7 Record the application of overhead. 8 Record the payment of total factory payroll. Note : journal entry has been entered 1. Prepare Journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials usage. (c) Indirect materials usage. (a) direct labor usage, (e) Indirect labor usage. (h) other overhead costs. (g) overhead applied, and (h) payment of total payroll costs. View transaction list Journal entry worksheet 1 2 3 5 6 7 8 Record the purchase of raw materials on account Note Enter debits before credits Transaction General Journal Dobil Credit Hecord entry Clearen Wwwal journal