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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 Inventory Ending Inventory Raw materials inventory $ 186,000 $ 277,000 Work in process inventoryWeaving 405,000 380,000 Work in process inventorySewing 700,000 835,000 Finished goods inventory 1,306,000 1,336,000 The following additional information describes the companys manufacturing activities for June: Raw materials purchases (on credit) $ 565,000 Factory payroll cost (paid in cash) 3,285,000 Other factory overhead cost (Other Accounts credited) 190,000 Materials used DirectWeaving $ 276,000 DirectSewing 84,000 Indirect 196,000 Labor used DirectWeaving $ 1,350,000 DirectSewing 435,000 Indirect 1,500,000 Overhead rates as a percent of direct labor Weaving 80 % Sewing 155 % Sales (on credit) $ 5,250,000 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.

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