Required information Use the following information for the Exercises below. [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 $ 144,000 315,000 585,000 1,486,000 Ending Inventory $ 277,000 330,000 980,000 1,286,000 The following additional information describes the company's manufacturing activities for June $ 645,000 3,395,000 188,000 $ 250,000 96,000 164,000 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) $1,275,000 545,000 1,575,000 85% 155% $5,200,000 Exercise 16-14 Production cost flow and measurement; journal entries LO P4 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 Journal entry worksheet Record the goods transferred from weaving to sewing. Note: Enter debits before credits. General Journal Debit Credit Date June 30 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the sale of goods on account. Note: Enter debits before credits. General Journal Debit Credit Date June 30 Record entry Clear entry View general journal Journal entry worksheet