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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
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: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory Ending Inventory $ 190,000 $ 229,000 405,000 750,000 1,396,000 485,000 855,000 1,356,000 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 Direct-Weaving Direct-Sewing Indirect Labor used $ 700,000 3,635,000 208,000 $ 314,000 138,000 124,000 $1,375,000 Direct-Weaving 485,000 Direct-Sewing 1,775,000 Indirect Overhead rates as a percent of direct labor 851 Weaving 165 Seving Sales (on credit) $4,500,000 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage, < Prev 10 of 10 Next >
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