Question
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:
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 Inventory Ending Inventory Raw materials inventory $ 178,000 $ 221,000 Work in process inventoryWeaving 415,000 510,000 Work in process inventorySewing 600,000 760,000 Finished goods inventory 1,286,000 1,496,000 The following additional information describes the companys manufacturing activities for June: Raw materials purchases (on credit) $ 630,000 Factory payroll cost (paid in cash) 3,310,000 Other factory overhead cost (Other Accounts credited) 172,000 Materials used DirectWeaving $ 286,000 DirectSewing 99,000 Indirect 142,000 Labor used DirectWeaving $1,325,000 DirectSewing 365,000 Indirect 1,525,000 Overhead rates as a percent of direct labor Weaving 80% Sewing 170% Sales (on credit) $4,000,000 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.
A: B: C:
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