Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing...

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Accounting

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 $ 136,000 $ 217,000
Work in process inventoryWeaving 430,000 515,000
Work in process inventorySewing 630,000 750,000
Finished goods inventory 1,416,000 1,326,000

The following additional information describes the companys manufacturing activities for June:

Raw materials purchases (on credit) $ 555,000
Factory payroll cost (paid in cash) 3,390,000
Other factory overhead cost (Other Accounts credited) 208,000
Materials used
DirectWeaving $ 292,000
DirectSewing 126,000
Indirect 188,000
Labor used
DirectWeaving $ 1,325,000
DirectSewing 540,000
Indirect 1,525,000
Overhead rates as a percent of direct labor
Weaving 80 %
Sewing 155 %
Sales (on credit) $ 4,850,000

1. Prepare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage, (d) direct labor usage, (e) indirect labor usage, (f) other overhead costs, (g) overhead applied, and (h) payment of total payroll costs.

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1. Prepare journal entries dated June 30 to record: (a) raw materials purchases, (b) direct materials usage, (c) indirect materials usage, (d) direct labor usage, (e) indirect labor usage, (f) other overhead costs, (g) overhead applied, and (h) payment of total payroll costs. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 > Record the purchase of raw materials on account. Note: Enter debits before credits. General Journal Debit Credit Transaction (a) Record entry Clear entry View general journal Journal entry worksheet Record the cost of indirect labor incurred, but not yet paid. Note: Enter debits before credits. General Journal Debit Credit Transaction (e) Record entry Clear entry View general journal Journal entry worksheet Record the cost of other overhead (credit Other accounts). Note: Enter debits before credits. General Journal Debit Credit Transaction (1) Record entry Clear entry View general journal Journal entry worksheet Record the payment of total factory payroll. Note: Enter debits before credits. General Journal Debit Credit Transaction (h) Record entry Clear entry View general journal

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