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[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

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[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 $ 156,000 $ 269,000 Work in process inventory Weaving 365,000 520,000 Work in process inventory-Sewing 580,000 810,000 Finished goods inventory 1,266,000 1,386,000 The following additional information describes the company's manufacturing activities for June: Rav material purchases (on credit) $ 545,000 other actual overhead coat (paid in canh) 166,000 Materials used Direct-Weaving $ 286,000 Direct-Sewing 105,000 Indirect 140,000 Labor unod Direct-Weaving $ 1,250,000 Direct-Seving 530,000 Indirect 1.775.000 Overhead rates as a percent of direct labor Weaving BOL Sewing 1500 sales con credit) 44,750,000 Required: 1. Compute the (e) cost of products transferred from weaving to sewing. (b) cost of products transferred from sewing to finished goods, and (e) 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 entries dated June 30 to record (m) 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. 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. 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 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. Hint: Compute the total production costs in each department and then subtract the ending inventory to get the amount transferred out of each department. Hint: Compute the total production costs in each department and then subtract the ending Inventory to get the amount transferred out of each department. Show less (a) Transferred to Sewing from Weaving (b) Transferred to Finished Goods from Sewing (c) Cost of goods sold Required 2 > Required 1 Required 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. View transaction list x A Record the goods transferred from weaving to sewing Record the goods transferred from sewing to finished goods. Record the sales on credit. Record the cost of goods sold. Credit Note - Journal entry has been entered Racord entry Clear entry View general Journal 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials used, (c) Indirect materials used, (d) direct labor used, (e) Indirect labor used, (f) other actual overhead costs, and (a) overhead applied. View transaction list X 1 1 Record the purchase of raw materials on account 2 Record the usage of direct materials. 3 Record the usage of indirect materials. Record the cost of direct labor incurred, but not yet paid. 5 Record the cost of indirect labor incurred, but not yet paid 6 Record other overhead costs paid with cash. 7 Record the application of overhead. Credit Note: Journal entry has been entered Record entry Clear entry View general Journal

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