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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 Inventor Ending InventorV Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory $190,000 $ 277,000 445,000 900,000 1,246,000 495,000 655,000 1,296,000 The following additional information describes the company's manufacturing activities for June: Raw materials purchases (on credit) Factory wages cost (paid in cash) Other factory overhead cost (Other Accounts credited) Materials used $515,000 3,250,000 174,000 Direct-Weaving Direct-Sewing Indirect $ 256,000 144,000 172,000 Labor used Direct-Weaving Direct-Sewing Indirect $1,350,000 500,000 1,700,000 Overhead rates as a percent of direct labor Weaving Sewing 85% 160% Sales (on credit) $4,200,000Step by Step Solution
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