Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
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 $ 178,eee 47e,eee 745, eee 1,356,eee Ending Inventory $ 241, eee 520,000 920,000 1,446, eee The following additional information describes the company's manufacturing activities for June $ 540,000 3,675,000 192,800 $ 3e8,eee 123,000 142,eee Raw materials purchases (on credit) Factory wages cost (paid in cash) Other factory overhead cost (Other Accounts credited) Materials used Direct-leaving Direct-Sewing Indirect Labor used Direct-leaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $1,350, eee 575, eee 1,75e,eee 85% 1555 $4,650, eee Exercise 3-15 Recording product costs LO P1, P2, P3 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials usage. (c) indirect materials usage, (d) direct labor usage, (e) indirect labor usage, (1) other overhead costs, (g) overhead applied, and (h) payment of total wages costs View transaction list Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematical Finance Core Theory Problems And Statistical Algorithms

Authors: Nikolai Dokuchaev

1st Edition

0415414482, 978-0415414487

Students also viewed these Finance questions

Question

What is user satisfaction?

Answered: 1 week ago

Question

What are the different techniques used in decision making?

Answered: 1 week ago

Question

Group Size and Communication

Answered: 1 week ago

Question

Understanding Group Roles

Answered: 1 week ago