Required information The following information applies to the questions displaye

Question

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: Beginning Endi Raw materials inventory Work in process inventory-Heaving Work in process inventory-sewing Pinished goods inventory Inventory Inventory $ 120,000 185,000 300,000330,000 700,000 1,266,000 1,206,000 570,000 The following additional information describes the company's manufacturing activities for June Raw materials purchases (on credit) Factory wages cost (paid in cash) 500,000 3,060,000 156,000 other factory overhead cost (Other Accounts credited) Materials used Direct-Weaving Direct-Sewing Indirect 240,000 75,000 120,000 ces Labor used Direct-Weaving Direct-Seving Indirect $1,200,000 360,000 1,500,000 Overhead rates as a percent of direct labor 80 Weaving Seving 150% $4,000,000 Sales (on credit) 1. Prepare journal entries dated June 30 to record: (a) raw materials purchases, (o) direct materials usage, (c) indirect materials u

Explanation / Answer

Journal entry :

Date accountss & explanation debit credit Raw material 500000     Account payable 500000 (To record purchase raw material) Work in process-Weaving 240000 Work in process-Sewing 75000     Raw material 315000 (To record direct material used) Manufacturing overhead 120000    Raw material 120000 (To record indirect material) Work in process-Weaving 1200000 Work in process-Sewing 360000      Wages payable 1560000 (To record direct labour used) Manufacturing overhead 1500000     Wages payable 1500000 (To record indirect labour) Manufacturing overhead 156000    Other overhead 156000 (To record overhead) Work in process-weaving 960000 Work in process-Sewing 540000     Manufacturing overhead 1500000 (To record overhead applied) Wages payable 3060000     Cash 3060000 (To record wages paid)

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