Question
[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
[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 Inventory | Ending Inventory | |
|---|---|---|
| Raw materials inventory | $ 190,000 | $ 225,000 |
| Work in process inventoryWeaving | 450,000 | 480,000 |
| Work in process inventorySewing | 710,000 | 960,000 |
| Finished goods inventory | 1,266,000 | 1,306,000 |
The following additional information describes the companys manufacturing activities for June:
| Raw materials purchases (on credit) | $ 670,000 |
|---|---|
| Other actual overhead cost (paid in cash) | 182,000 |
| Materials used | |
| DirectWeaving | $ 262,000 |
| DirectSewing | 90,000 |
| Indirect | 150,000 |
| Labor used | |
| DirectWeaving | $ 1,250,000 |
| DirectSewing | 495,000 |
| Indirect | 1,700,000 |
| Overhead rates as a percent of direct labor | |
| Weaving | 80% |
| Sewing | 165% |
| Sales (on credit) | $ 5,450,000 |
rev: 05_27_2021_QC_CDR-376
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 (g) overhead applied.
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Deciding What To Teach And Test Developing Aligning And Auditing The Curriculum
Authors: Fenwick W. English
1st Edition
0803968329, 978-0803968325
