[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: Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory Beginning Inventory $ 144,000 370,000 655,000 1,466,000 Ending Inventory $ 281,000 370,000 960,000 1,326,000 The following additional information describes the company's manufacturing activities for June: $ 695,000 158,000 $ 310,000 114,000 144,000 Raw materials purchases (on credit) Other actual overhead cost (paid in cash) Materials used Direct-Weaving Direct-Sewing Indirect Labon used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $ 1,250,000 430,000 1,775,000 85% 155% $ 4,250,000 Required: 1. Compute the (a) cost of products transferred from weaving to sewing, (b) cost of products transferred from sewing 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 lessA (a) Transferred to Sewing from Weaving (b) Transferred to Finished Goods from Sewing (c) Cost of goods sold Prev Next > Journal entry worksheet K A B D Record the goods transferred from weaving to sewing. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general journal Journal entry worksheet Record the purchase of raw materials on account. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general al Journal entry worksheet 1 2 3 4 5 6 7 Record the usage of direct materials. Note: Enter debits before credits. Transaction General Journal Debit Credit (b) Record entry Clear entry View general journal Journal entry worksheet Record the cost of direct labor incurred, but not yet paid. Note: Enter debits before credits Transaction General Journal Debit Credit (d) Record only Clear entry View general al Journal entry worksheet