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 $ 180,000 455,000 590,000 1, 296, 000 The following additional information describes the company's manufacturing activities for June: Raw materials purchases (on credit) Other actual overhead cost (paid in cash) Materials used Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory 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) $ 560,000 202,000 $ 274,000 138,000 144,000 $ 1,350,000 475,000 1,725,000 90% 155% Ending Inventory $ 225,000 335,000 990,000 1,226,000 $ 5,400,000 repare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials used, (c) indirect materials used, (d) ect labor used, (e) indirect labor used, (f) other actual overhead costs, and (g) overhead applied.
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 $ 180,000 455,000 590,000 1, 296, 000 The following additional information describes the company's manufacturing activities for June: Raw materials purchases (on credit) Other actual overhead cost (paid in cash) Materials used Raw materials inventory Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory 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) $ 560,000 202,000 $ 274,000 138,000 144,000 $ 1,350,000 475,000 1,725,000 90% 155% Ending Inventory $ 225,000 335,000 990,000 1,226,000 $ 5,400,000 repare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials used, (c) indirect materials used, (d) ect labor used, (e) indirect labor used, (f) other actual overhead costs, and (g) overhead applied.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
6.
Transcribed Image Text: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:
Raw materials inventory
Work in process inventory-Weaving
Work in process inventory-Sewing
Finished goods inventory
Direct-Weaving
Direct-Sewing
Indirect
The following additional information describes the company's manufacturing activities for June:
Raw materials purchases (on credit)
Other actual overhead cost (paid in cash)
Materials used
Labor used
Direct-Weaving
Direct-Sewing
Indirect
Overhead rates as a percent of direct labor
Weaving
Sewing
Sales (on credit)
View transaction list
Journal entry worksheet
<
1 2 3 4 5
Record the purchase of raw materials on account.
Note: Enter debits before credits.
Transaction
(a)
. 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.
6
General Journal
Beginning
Inventory
$ 180,000
455,000
590,000
1, 296, 000
7
$ 560,000
202,000
$ 274,000
138,000
144,000
$ 1,350,000
475,000
1,725,000
90%
155%
$ 5,400,000
Debit
Ending
Inventory
$ 225,000
335,000
990,000
1,226,000
Credit
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