Required information The following information applies to th

Required information [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 12.4 oints awarded Raw materials inventory Work in process inventory Weaving Work in process iniventory Sewing Finished goods inventory Inventory Inventory 120,000 185,000 300,000 330,000 570,000 700,000 266,000 1,206,000 eBook Hint Print References The following additional information describes the company\'s manufacturing activities for June Raw materials purchases (on credr Factory wages cost (paid in cash) Other factory overhead cost (Other Accounts credted) Materials used 500,000 3,060,000 156,000 240,000 5.000 120,000 Diredt-Weaving ndrect Direct-Weaving ndrect Weaing Labor used 1,200,000 360 000 1,500,000 Overhead rates as a percent of direct labor 80% 150% Sewino

Solution

working T accounts Work In Process-Weaving Beg bal 300000 Work In Process-Sewing 2370000 Raw Material 240000 (bal fig) Direct labor D 1200000 Factory Overhead (80%*D) 960000 End bal 330000 Work In Process-Sewing Beg bal $570,000 Finsihed Goods $3,215,000 Raw Materil 75000 (bal fig) Direct labor D 360000 Factory Overhead (150%*D) 540000 Work In Process-Weaving 2370000 End bal 700000 Finished Goods Inventory Beg bal $1,266,000 Cost of good sold $3,275,000 Work In Process-Sewing $3,215,000 (bal fig) Beg+added-ending End bal 1206000 answer a) Cost of product transferred from weaving to sweing 2370000 b) Sweing to finished goods $3,215,000 c) Cost of good sold $3,275,000 answer 2 Accounts Title Dr cR 30-Jun Work In Process Inventory -Sewing 2370000 Work In Process Inventory-Weaving 2370000 30-Jun Finished Goods Inventory $3,215,000 Work In Process Inventory -Sewing $3,215,000 30-Jun Accounts receivable Sales Please enter the figure as that is missing on page 1) 30-Jun Cost of good sold $3,275,000 Finished Goods Inventory $3,275,000 If any doubt please comment