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Required information Use the following Informetlon for the Exerelses below. (Algo) [The following information applies to the questions displayed below.] Pro-Weave manufactures stadlum blankets by
Required information Use the following Informetlon for the Exerelses below. (Algo) [The following information applies to the questions displayed below.] Pro-Weave manufactures stadlum blankets by passing the products through a weaving department and then a sewing department. The following information is available regarding its June Inventorles: The following additional information describes the company's manufacturing activities for June: Exerclse 20-24 (Algo) Entrles 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 finishe 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 entrles dated June 30 to record (a) goods transferred from weaving to sewng. (b) goods transferred from se 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. 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. Prepare journal entries dated June 30 to record (a) goods transferred from weaving to seiving, (b) goods transferred from sewing to finished goods, (c) sale of finished goods, and (d) cost of goods sold. Record the goods transferred from weaving to sewing. B Record the goods transferred from sewing to finished goods. Record the sale on credit. Record the cost of goods sold. Note : = joumal entry has been entered
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