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 Inventory $ 120,000 300,000 Ending Inventory Raw materials inventory Work in process inventory-weaving Work in process Inventory-Sewing Finished goods inventory 570,000 1,266,000 $ 185,000 330,000 700,000 1,206,000 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 $500,000 156,000 Direct-Sexing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $ 240,000 75,000 120,000 $ 1,200,000 360,000 1,224,000 sex 150% $ 4,000,000 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. Hint Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department C of 2 4. Compute the (a) cost of products transferred from weaving to sewing, (b) cost of products transfered 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. Book Complete this question by entering your answers in the tabs below. Hint Print erences 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 (e) cost of goods sold. (a) Transferred from Weaving to Sewing (b) Transferred from Sewing to Finished Goods (c) Cost of goods sold Required 2 > Required information Required 1 Required 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. View transaction list Journal entry worksheet A B C D Record the goods transferred from weaving to sewing. Note: Enter debits before credits. Date June 30 General Journal Debit Credit Prov 1 2 of 2 Next > 4 ces 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials used, (c) indirect materials used, (d) direct labor used, (e) indirect labor used, (f) other actual overhead costs, and (g) overhead applied View transaction list Journal entry worksheet 1 2 3 4 5 6 Record the purchase of raw materials on account. Note: Enter debts before credits. Transaction (a) General Journal Debit Credit Record entry Clear entry View general journal < Prev 2 of 2 Next