Use the following information for the Exercises below. $($Algo$)$

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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 $ $184,000$ $ $293,000$

Work in process inventory$$Weaving $360,000410,000$

Work in process inventory$$Sewing $700,000755,000$

Finished goods inventory $1,476,0001,366,000$

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

Raw materials purchases $($on credit$)$ $ $640,000$

Other actual overhead cost $($paid in cash$)186,000$

Materials used

Direct$$Weaving $ $286,000$

Direct$$Sewing $84,000$

Indirect $148,000$

Labor used

Direct$$Weaving $ $1,275,000$

Direct$$Sewing $390,000$

Indirect $1,625,000$

Overhead rates as a percent of direct labor

Weaving $80\%$

Sewing $170\%$

Sales $($on credit$)$ $ $4,400,000$

Exercise $16-24($Algo$)$ Entries for transfer of goods across departments LO P$4$

Required:

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.

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.