Homework 3 6 Saved Help Save & Exit Sbmit Check my work 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: Beginning B Ending Part 1 of 2 Raw materials inventory Work in process inventory Weaving Work in process inventory Sewing Pinished goods inventory Inventory Inventory $166,000 261,000 415,000 880,000 1,346,000 1,386,000 490,000 740,000 points The following additional information describes the company's manufacturing activities for June: eBook Raw materials purchases (on credit) Factory wages cost (paid in cash) Other factory overhead cost (Other Accounts credited) Materials used 660,000 3, 325, 000 172,000 Hint Direct-Weaving Direct-Sewing Indirect 304,000 84,000 196,000 Labor used Print Direct-Weaving Direct-Sewing Indirect $1,375,000 425,000 1,525,000 Overhead rates as a percent of direct labor Weaving Sewing 90% 1708 $4,400,000 Sales (on credit) 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 2. Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sewing to finished goods, and (c) sale of finished goods. Mc Graw Hill 11 12 of 31 Next > KPrev Homework 3 6 Saved Help Save & Exit Sbmit Check my work Labor used Direct-Weaving Direct-Sewing Indirect $1,375, 000 425, 000 1,525,000 Overhead rates as a percent of direct labor Weaving Sewing 90% 1702 Part 1 of 2 Sales (on credit) $4,400,000 points 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. eBook 2. Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sewing to finished goods, and (c) sale of finished goods. Hint Complete this question by entering your answers in the tabs below Print Required1Required 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 $ 3.406,500 (a) Sewing (b) Finished Goods (c) Cost of goods sold Required 1 Required 2> Graw Hill KPrev 11 12 of 31 Next > Homework 3 6 Saved Help Save & Exit Sbmit Check my work 11 n finished goods, and (c) sale of finished goods. Part 1 of 2 Complete this question by entering your answers in the tabs below points Required Required 2 Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sewing to finished goods, and (c) sale of finished goods. eBook View transaction list View journal entry worksheet Hint No Date General Journal Debit Credit June 30 Work in process inventory Work in process i Sewing Print June 30 Finished goods inventory Work in process inventory-Sewing June 30 Accounts receivable Sales June 30Cost of goods sold Finished goods inventory Required! Required 2 Graw Hill KPrev 11 12 of 31Next >
