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 Ending InventoryInventory Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory 120,000 185,000 300,000 330,000 700,000 1,266,000 1,206,000 570,000 The following additional information describes the company's manufacturing activities for June Raw materials purchases (on credit) Factory payroll cost (paid in cash) Other factory overhead cost (Other Accounts credited) Materials used $ 500,000 3,060,000 156,000 Direct-Weaving Direct-Sewing Indirect $ 240,000 75,000 120,000 Labor used Direct-Weaving Direct Sewing $1,200,000 360,000 1,500,000 ndirect Overhead rates as a percent of direct labor Weaving Sewing 80% 15096 $4,000,000 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 (a) Sewing (b) 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 Type here to search