Pro - Weave manufactures stadium blankets by passing the products through a weaving department and then a
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Question:
ProWeave 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 $ $
Work in process inventoryWeaving
Work in process inventorySewing
Finished goods inventory
The following additional information describes the companys manufacturing activities for June:
Raw materials purchases on credit $
Other actual overhead cost paid in cash
Materials used
DirectWeaving $
DirectSewing
Indirect
Labor used
DirectWeaving $
DirectSewing
Indirect
Overhead rates as a percent of direct labor
Weaving
Sewing
Sales on credit $ 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 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.
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