Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] 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 Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory $136,000 475,000 660,000 1,396,000 $ 221,000 405,000 780,000 1,366,000 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 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) $545,000 170,000 $296,000 132,000 166,000 $1,325,000 525,000 1,550,000 85% 165% $ 5,250,000 Exercise 20-25 (Algo) Recording product costs LO P3 1. 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. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Record the purchase of raw materials on account. Note: Enter debits before credits. Transaction (a) General Journal Debit Credit Record entry Clear entry View general journal
Required Information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] 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 Work in process inventory-Weaving Work in process inventory-Sewing Finished goods inventory $136,000 475,000 660,000 1,396,000 $ 221,000 405,000 780,000 1,366,000 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 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) $545,000 170,000 $296,000 132,000 166,000 $1,325,000 525,000 1,550,000 85% 165% $ 5,250,000 Exercise 20-25 (Algo) Recording product costs LO P3 1. 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. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Record the purchase of raw materials on account. Note: Enter debits before credits. Transaction (a) General Journal Debit Credit Record entry Clear entry View general journal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Vinubhai
![Required Information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
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
Work in process inventory-Weaving
Work in process inventory-Sewing
Finished goods inventory
$136,000
475,000
660,000
1,396,000
$ 221,000
405,000
780,000
1,366,000
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
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)
$545,000
170,000
$296,000
132,000
166,000
$1,325,000
525,000
1,550,000
85%
165%
$ 5,250,000
Exercise 20-25 (Algo) Recording product costs LO P3
1. 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.
View transaction list
Journal entry worksheet
1 2 3 4 5 6
7
Record the purchase of raw materials on account.
Note: Enter debits before credits.
Transaction
(a)
General Journal
Debit
Credit
Record entry
Clear entry
View general journal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb09894ae-fe5b-48ea-bbd6-cb9513fce7d8%2F9bdb30fc-54b2-4b57-afd5-d980d24555f7%2Frdc5f0m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required Information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
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
Work in process inventory-Weaving
Work in process inventory-Sewing
Finished goods inventory
$136,000
475,000
660,000
1,396,000
$ 221,000
405,000
780,000
1,366,000
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
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)
$545,000
170,000
$296,000
132,000
166,000
$1,325,000
525,000
1,550,000
85%
165%
$ 5,250,000
Exercise 20-25 (Algo) Recording product costs LO P3
1. 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.
View transaction list
Journal entry worksheet
1 2 3 4 5 6
7
Record the purchase of raw materials on account.
Note: Enter debits before credits.
Transaction
(a)
General Journal
Debit
Credit
Record entry
Clear entry
View general journal
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