Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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:

image text in transcribed
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 $ 198,000 480, 600,00 1,475,000 Ending Inventory $ 193, 540,00 715, 1,376,000 The following additional Information describes the company's manufacturing activities for June 685, 3,410, 164,00 252,000 114,00 194,000 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 Direct-Weaving Direct-sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $1,3ee, ose 360,000 1,750,000 80% 165 35,250, ebe 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases. (b) direct materials usage. (C) Indirect matertals usage, (d) direct labor usage, (e) Indirect labor usage. In other overhead costs, (g) overhead applied, and (h) payment of total payroll costs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Business Reporting For Decision Making

Authors: Jacqueline Birt, Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond

7th Edition

0730369323, 9780730369325

More Books

Students also viewed these Accounting questions

Question

Describe the three parts of developing a new habit.

Answered: 1 week ago