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Exercise 3-14 Production cost flow and measurement; journal entries LO P1, P2, P3, P4 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 inventores Raw materials inventory Work in process inventory Weaving Work in process inventory Sewing Finished goods inventory Beginning Inventory $ 182,000 370.000 585,000 1,406,000 Ending Inventory $ 285,000 450 000 760,000 1,496,000 The following additional information describes the company's manufacturing activities for June. $ 580,000 3,210,000 178,000 Raw materials purchases (on credit) Factory payroll cost (paid in cash) Other factory overhead cost (Other Accounts credited) Materials used Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $ 252,000 96,000 194 000 $1,350,000 415,000 1,625,000 80% 155% $4,650,000 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 $ 2,602.000 (a) From weaving to sewing (b) From sewing to finished goods (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 View transaction list View journal entry worksheet No Date Credit General Journal Work in process inventory Sewing Debit 2,602,000 June 30 Work in process inventory Weaving 2 602,000 June 30 Finished goods inventory Work in process inventory Sewing June 30 Accounts receivable 4650 000 4,650,000 June 30 Cost of goods sold Fished goods invento