Required Information Use the following information for the Exercises below. (Algo) [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. Raw materials inventory Work in process inventory-weaving Work in process inventory-Sewing Finished goods inventory Inventory $160,000 Ending Inventory $205,000 370,000 680, Jee 890,000 1,426,000 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 3 610,000 172,0 Direct-Sevding Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $ 298,000 96,000 186,000 $ 1,375,000 475,000 1,700,000 85% 155% $ 4,850,000 rcise 3-24 (Algo) Entries for transfer of goods across departments LO P4 ulred: ompute the (a) cost of products transferred from weaving to sewing. (b) cost of products transferred from sewing to finished goods. (c) cost of goods sold. Hint Compute the total production costs in each department and then subtract the ending inventory to get amount transferred out of each department, repare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sewing to hed goods, (c) sale of finished goods, and (d) cost of goods sold Complete this question by entering your answers in the tabs below. equired 1 Required 2 mpute the (a) cost of products transferred from weaving to sewing, (b) cost of products transferred from sewing to finished ods, and (c) cost of goods sold. Transferred from Weaving to Sewing 2:05 tual overhead cost (paid in cash) Materials used Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect 172,000 $ 298,000 96, 808 186,000 $1,375,000 475,000 E.200,000 Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) 155% ces Exercise 3-24 (Algo) Entries for transfer of goods across departments LO P4 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 tow 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 (d) Cost of goods sold Required 2 > Required information aru (c) Cust ur goods suiu, mint Compute the wial production costs in each department and uriensuutact the ending in 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 f 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 Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sew 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 Record entry Clear entry