Pro-Weave manufactures stadium blankets by passing the products through a weaving department and then a...
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Accounting
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
$ 120,000
$ 285,000
Work in process inventoryWeaving
485,000
365,000
Work in process inventorySewing
735,000
740,000
Finished goods inventory
1,406,000
1,206,000
The following additional information describes the companys manufacturing activities for June:
Raw materials purchases (on credit)
$ 635,000
Other actual overhead cost (paid in cash)
156,000
Materials used
DirectWeaving
$ 314,000
DirectSewing
114,000
Indirect
138,000
Labor used
DirectWeaving
$ 1,250,000
DirectSewing
480,000
Indirect
1,525,000
Overhead rates as a percent of direct labor
Weaving
85%
Sewing
160%
Sales (on credit)
$ 5,050,000
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.
Can I get assistance in the above 7 record entries?
2 Record the usage of direct materials. 3 Record the usage of indirect materials. 4 Record the cost of direct labor incurred, but not yet paid. 5 Record the cost of indirect labor incurred, but not yet paid. 6 Record other overhead costs paid with cash. 7 Record the application of overhead. Note : = journal entry has been entered
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