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: Beginning
Inventory Ending Inventory Raw materials inventory $ 130,000 $
269,000 Work in process inventory—Weaving 475,000 345,000 Work in
process inventory—Sewing 690,000 870,000 Finished goods inventory
1,326,000 1,236,000 The following additional information describes
the company’s manufacturing activities for June: Raw materials
purchases (on credit) $ 685,000 Factory payroll cost (paid in cash)
3,130,000 Other factory overhead cost (Other Accounts credited)
182,000 Materials used Direct—Weaving $ 250,000 Direct—Sewing
144,000 Indirect 138,000 Labor used Direct—Weaving $ 1,325,000
Direct—Sewing 425,000 Indirect 1,625,000 Overhead rates as a
percent of direct labor Weaving 80 % Sewing 165 % Sales (on credit)
$ 5,400,000
1. 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.
2. 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.
Complete this question by entering your answers in the
tabs below.
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.
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(a) |
Sewing |
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(b) |
Finished Goods |
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(c) |
Cost of goods sold |
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Complete this question by entering your answers in the
tabs below.
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.
Journal entry worksheet
- Record the goods transferred from weaving to sewing.
Note: Enter debits before credits.
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Date |
General Journal |
Debit |
Credit |
June 30 |
Work in process inventory—Sewing |
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Work in process inventory—Weaving |
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