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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 Ending Inventory Inventory Raw materials inventory 148,000 221,000 Work in process inventory-Weaving 330,000 450,000 Work in process invento ewing 665,000 850,000 1,456,000 1,306,000 Finished goods inventory The following additional information describes the company's manufacturing activities for June 675,000 Raw materials purchases (on credit) Factory payroll cost (paid in cash) 3,110,000 Other factory overhead cost (Other Accounts credited) 164,000 Materials used 296,000 Direct Weaving Direct Sewing 135,000 154,000 Indirect Labor used $1,375,000 Direct Weaving 380,000 Direct-Sewing 1,750,000 Indirect head rates as a percent of direct labor Weaving 80% Sewing 155% Sales (on credit) $5,350,000 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. (a) From weaving to sewing (b) From sewing to finished goods (c) Cost of goods sold
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