Question
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
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: Beginning Inventory Ending Inventory Raw materials inventory $ 184,000 $ 289,000 Work in process inventoryWeaving 315,000 455,000 Work in process inventorySewing 665,000 950,000 Finished goods inventory 1,326,000 1,396,000 The following additional information describes the companys manufacturing activities for June: Raw materials purchases (on credit) $ 595,000 Factory payroll cost (paid in cash) 3,495,000 Other factory overhead cost (Other Accounts credited) 218,000 Materials used DirectWeaving $ 288,000 DirectSewing 111,000 Indirect 136,000 Labor used DirectWeaving $ 1,225,000 DirectSewing 470,000 Indirect 1,800,000 Overhead rates as a percent of direct labor Weaving 85 % Sewing 155 % Sales (on credit) $ 4,200,000. Prepare journal entry.
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