Required information Use the following information for the Exercises below. The following information applies to the questions displayed below 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 154,200 420, eee Ending Inventory $ 225,000 445,000 Raw materials inventory Work in process inventory- Weaving Work in process inventory- Sewing Finished goods inventory 645,000 1,416,000 875,000 1,486,000 The following additional information describes the company's manufacturing activities for June: $ 605,000 3,425,000 170,000 $ 314,000 129,000 200,000 Raw materials purchases (on credit) Factory wages cost (paid in cash) other factory overhead cost (other Accounts credited) Materials used Direct-Weaving Direct-Sewing Indirect Labor used Direct-Weaving Direct-Sewing Indirect Overhead rates as a percent of direct labor Weaving Sewing Sales (on credit) $1,225,000 425,000 1,775,000 85% 150% $5,100,000 Sewing Sales (on credit) 85% 150% $5,100,000 Exercise 16-14 Production cost flow and measurement; journal entries LO P1, P2, P3, P4 1. Compute the (a) cost of products transferred from weaving to sewing. (b) cost of products transferred from sewing to finished go 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 sewin finished goods, and (c) sale of finished goods. 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 (b) Finished Goods (c) Cost of goods sold Required 2 > H eu yuuus, au bait eu yuuus. View transaction list Journal entry worksheet w Wallsduon list Journal entry worksheet Record the sale of goods on account. Note: Enter debits before credits. General Journal Date June 30 Debit Credit --- Record entry Clear entry View general Journal View transaction list Journal entry worksheet Required information 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases. (b) direct materials usage. (c) indirect materials usage, (d) direct labor usage, (e) indirect labor usage. (1) other overhead costs, (g) overhead applied, and (h) payment of total wages costs. View transaction list Journal entry worksheet 2 3 4 5 6 7 Record the purchase of raw materials on account. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases. (b) direct materials usage, (c) indirect materials us (a) direct labor usage, (e) indirect labor usage, (1) other overhead costs. (g) overhead applied, and in payment of total wages cost View transaction list Journal entry worksheet 3 4 5 6 7 Record the usage of direct materials. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal 1. Pupale juurhal unuies dated June 30 to record: (a) raw materials purchases. (b) direct materials usage. (c) indirect matel (d) direct labor usage. (e) indirect labor usage. (f) other overhead costs, (g) overhead applied, and (h) payment of total wag View transaction list Journal entry worksheet Record the usage of indirect materials. Note: Enter debits before credits. General Journal Debit Credit Transaction (c) Record entry Clear entry View general Journal U JUNE JU IU TOCOPO () taw materials purchases, (b) direct materials usage, (c) indirect (d) direct labor usage, (e) indirect labor usage. (1) other overhead costs. (g) overhead applied, and (h) payment of tot View transaction list Journal entry worksheet
