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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
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 a sewing department. The following information is available regarding its June inventories: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory Ending Inventory $ 126,000 $ 253,000 430,000 335,000 675,000 1,476,000 965,000 1,426,000 The following additional information describes the company's manufacturing activities for June: 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 $ 635,000 3,275,000 220,000 $ 296,000 99,000 156,000 $1,375,000 400,000 1,500,000 80% Weaving Sewing Sales (on credit) 165% $4,550,000
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