Homepride Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting Department, where carpet backing is added at the beginning of the process and the process is completed. On August 1, Homepride Carpet Company had the following inventories:

1. Journalize the entries to record the operations, identifying each entry by letter. For a compound transaction, if an amount box does not require an entry, leave it blank.

2. Compute the August 31 balances of the inventory accounts.

3. Compute the August 31 balances of the factory overhead accounts.

Finished Goods Work in Process-Spinning Department Work in Process-Tufting Department Materials $4,800 1,200 1,900 3,700