All transactions on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. PAGE 10 JOURNALACCOUNTING EQUATION Score: 79/346 DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY ACCOUNT PAYABLE 81,200.00 WORK AT THE DEPARTMENT OF PROCESS-SPINNING 43,000.00 WORK IN THE DEPARTMENT OF PROCESS TUFTING DEPARTMENT OF MANUFACTURING OVERHEAD-SPINNING 3,500.00 DEPARTMENT OF MANUFACTURING OVERHEAD-TUFTING 2,800.00 DEPARTMENT OF MANUFACTURING OVERHEAD-SPINNING 27,600.00 DEPARTMENT OF MANUFACTURING OVERHEAD TUFTING 17,900.00 DEPARTMENT OF MANUFACTURING OVERHEAD SPINNING 11,800.00 DEPARTMENT OF ACCUMULATED DEPRECIATION-SPINNING 11,700.00 DEPARTMENT OF 5,300.00 3,700.00 1,300.00 1,100.00 22,200.00 18,950.00 86,000.00 150,400.00 Points: 14.84 / 65 Check My Work 1. Remember that there are three different types of inventory: materials, work in process, and finished goods. Each department has a Work in Process account to track the costs that were accumulated in that department. 2. Compute the January 31 balances of the inventory accounts. Enter your amounts in positive value. Materials $ Work in Process: Spinning Department $ Tufting Department $ Finished Goods $ Points: 0 / 8 3. Compute the January 31 balances of the factory overhead accounts. Enter your amounts in positive value. Factory Overhead: Spinning Department $ Tufting Department $ Points: 0 / 4 Check My Work 2. & 3. Set up T accounts to help determine the balances from the transactions above