Help Pro-Weave manufactures stadium blankets by passing the products through a w

Question

Help 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 Inventory Raw materials inventory Work in process inventory Weaving Work in process inventory-Sewing Finished goods inventory 120,000 S 185,000 330,000 700,000 1,266,000 1,206, 000 300,000 570,000 The following additional information describes the company's manufacturing activities for June: Raw materials purchases (on credit) Factory wages cost (paid in cash) Other factory overhead cost (Other Accounts credited) Materials used s 500, 000 3,060, 000 156, 000 Direct-Weaving Direct-Sewing Indirect s 240, 000 75,000 120,000 Labor used $1,200,000 Direct Weaving .

Explanation / Answer

Solution 1a:

Solution 1b:

Solution 1c:

Solution 2:

Pro-Weave Manufacturer Cost of products transferred from weaving to sewing Particulars Amount Raw material used in Weaving $240,000.00 Direct Labor - Weaving $1,200,000.00 Manufacturing overhead Applied - Weaving (80% of DL) $960,000.00 Cost Incurred during the period in production $2,400,000.00 Add: Opening WIP $300,000.00 Less: ending WIP $330,000.00 Cost of goods transferred from Weaving to Sewing $2,370,000.00

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