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: Ending Inventory $ 185,000 Beginning Inventory $ 120,000 300,000 570,000 1,266,000 Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory 330,000 700,000 1,206,000 The following additional information describes the company's manufacturing activities for June: $ 500,000 3,060,000 156,000 $ 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 240,000 75,000 120,000 $1,200,000 360,000 1,500,000 Sewing 806 150% $4,000,000 Sales (on credit) 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, Record the goods transferred from weaving to sewing. A B Record the goods transferred from sewing to finished goods. C Record the sale of goods on account. 0 Record the cost of goods sold. Credit Note = journal entry has been entered Record entry Clear entre View.generalloumal Mc Graw Hill