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 Ending Inventory Inventory $ 154,000 $261,000 450,000 480,000 580,000 970,000 1,356,000 1,316,000 The following additional information describes the company's manufacturing activities for June: $ 515,000 3,180,000 194,000 $ 270,000 78,000 134,000 Raw materials purchases (on credit) Factory wages cost (paid in cash) other factory overhead cost (Other Accounts credited) Materials used Direct-Weaving Direct-Seving Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $1,225,000 405,000 1,550,000 904 1551 55,450,000 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage (d) direct labor usage, (e) Indirect labor usage. (1) other overhead costs, (9) overhead applied, and (h) payment of total wages 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_2

Step: 3

blur-text-image_3

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

Connect 2-semester For Auditing & Assurance Services A Systematic Approach

Authors: Author

10th Edition

1259292045, 9781259292040

More Books

Students also viewed these Accounting questions