! Required Information [The following Information applies to the questions displayed below.] Pro-Weave manufactures stadium blankets by passing the products through a weaving department and then a sewing department. The following Information is available regarding its June Inventories: Beginning Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Inventory Ending Inventory $ 196,000 430,000 $225,000 405,000 785,000 1,386,000 590,000 1,336,000 The following additional Information describes the company's manufacturing activities for June: Raw materials purchases (on credit) Other actual overhead cost (paid in cash) 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) $ 660,000 198,000 $ 306,000 123,000 166,000 $ 1,325,000 375,000 1,575,000 85% 150x $ 4,250,000 Required: 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. Hint Compute the total production costs in each department and then subtract the ending Inventory to get the amount transferred out of each department. 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. 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 sewing, (b) cost of products transferred from sewing to finished goods, and (c) cost of goods sold. (a) Transferred from Weaving to Sewing (b) Transferred from Sewing to Finished Goods (c) Cost of goods sold < Required 1 Required 2 >