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-Seving 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 $700,000 3,635,000 208,000 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) $ 314,000 138,000 124,000 $1,375,000 485,000 1,775,000 858 1658 $4,500,000 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. Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sewing to finished goods, (c) sale of finished goods, and (d) cost of goods sold. Complete this question by entering your answers in the tabs below. < Prev 9 10 of 10 Next >