Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

[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

image text in transcribed
[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: Beginning Ending Inventory Inventory Raw materials inventory $ 174,000 $ 261,000 Nork in process inventory-Having 465,000 420,000 Work in process inventory-Sowing 735,000 790,000 Finished goods inventory 1,356,000 1,346,000 The following additional information describes the company's manufacturing activities for June: Raw materials purchases (on credit) $ 580,000 Other actual overhead cost (paid in cash) 200,000 Materials used Direct-Weaving $ 296,000 Direct-Sewing 81,000 Indirect 182,000 Labor used Direct-Weaving $ 1,375,000 Direct-Sewing 370,000 Indirect 1,600,000 Overhead rates an percent of direct labor Weaving 900 Seving 1650 Sales con credit) $ 5,250,000 1. Prepare Journal entries dated June 30 to record: (a) raw materials purchases, (b) direct matelals used, (c) Indirect materials used, (d) direct labor used, (e) Indirect labor used. In other actual overhead costs, and (9) overhead applied

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

Knowledge Audit A Complete Guide

Authors: Gerardus Blokdyk

2020 Edition

0655912835, 978-0655912835

More Books

Students also viewed these Accounting questions

Question

3. Identify challenges to good listening and their remedies

Answered: 1 week ago

Question

4. Identify ethical factors in the listening process

Answered: 1 week ago