Raw materials inventory Work in process inventory-leaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 124,000 390,880 685,000 1,486,000 Ending Inventory $ 185,000 440,000 985,000 1,336,000 The following additional information describes the company's manufacturing activities for June $ 695, eee 3,280,000 214,800 s 254,080 84,000 190,000 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 leaving Sewing Sales (on credit) $1,300,000 405,000 1,575,800 855 1505 54,300,000 Exercise 20-14 Production cost flow and measurement: journal entries LO P4 1. Compute the (a) cost of products transferred from weaving to sewing. (b) cost of products transferred from sewing to finishe and (c) cost of goods sold. 2. Prepare journal entries dated June 30 to record () goods transferred from weaving to sewing. (b) goods transferred from se finished goods, (c) sale of finished goods, and (d) cost of goods sold. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the (a) cost of products transferred from weaving to sewino, (b) cost of products transferred from sewing to finished goods, and (c) cost of goods sold. (a) Sewing (b) Finished Goods (c) Cost of goods sold Required 1 Required 2 Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing finished goods, (c) sale of finished goods, and (d) cost of goods sold. View transaction list Journal entry worksheet A B D Record the goods transferred from weaving to sewing. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general joumal Journal entry worksheet 1 2. 3 4 5 6 7 8 > Record the purchase of raw materials on account. Note: Enter debits before credits Transaction General Journal Debit Credit (a) Record entry Clear entry View general Journal
