Required information (The following information applies to the questions displayed below.) Pro-Weave manufactures stadium blankets by passing the products through a weaving department 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 $ 190,000 410,000 660,000 1,326,000 Ending Inventory $ 281,000 415,000 795,000 1,426,000 The following additional information describes the company's manufacturing activities for June: $ 565,000 3,610,000 158,000 $ 264,000 99,000 144,000 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 Weaving Sewing Sales (on credit) $1,350,000 485,000 1,775,000 80% 160% $4,750,000 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. 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) Sewing (b) Finished Goods (c) Cost of goods sold Required 2 > Required information Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transfer finished goods, (c) sale of finished goods, and (d) cost of goods sold. View transaction list A Record the goods transferred from weaving to sewing. B Record the goods transferred from sewing to finished goods. C Record the sale of goods on account. D Record the cost of goods sold. Credit Note : = journal entry has been entered Record entry Clear entry View general Journal View transaction list 1 Record the purchase of raw materials on account. 2 Record the usage of direct materials. 3 Record the usage of indirect materials. 4 Record the cost of direct labor incurred, but not yet paid. 5 Record the cost of indirect labor incurred, but not yet paid. Cri 6 Record the cost of other overhead (credit Other accounts). 7 Record the application of overhead. Note : = journal entry has been entered Record entry Clear entry View ge View transaction list 2 Record the usage of direct materials. 3 Record the usage of indirect materials. 4 Record the cost of direct labor incurred, but not yet paid. 5 Record the cost of indirect labor incurred, but not yet paid. Credit 6 Record the cost of other overhead (credit Other accounts). 7 Record the application of overhead. 8 Record the payment of total factory payroll. Note : = journal entry has been entered Record entry Clear entry View general journal