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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:

Beginning Inventory Ending Inventory Raw materials inventory $ 138,000 $ 189,000 Work in process inventoryWeaving 420,000 510,000 Work in process inventorySewing 645,000 770,000 Finished goods inventory 1,456,000 1,426,000

The following additional information describes the company's manufacturing activities for June:

Raw materials purchases (on credit) $ 545,000 Factory payroll cost (paid in cash) 3,190,000 Other factory overhead cost (Other Accounts credited) 210,000 Materials used DirectWeaving $ 244,000 DirectSewing 117,000 Indirect 162,000 Labor used DirectWeaving $ 1,250,000 DirectSewing 550,000 Indirect 1,500,000 Overhead rates as a percent of direct labor Weaving 85 % Sewing 170 % Sales (on credit) $ 4,900,000 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$2,625,000(b)Finished Goods $3,745,000(c)Cost of goods sold$3,985,000