Instructions Buena Montana Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into The output of the Spinning Department is transferred to the Tufting Department, where carpet backing is added at the beginning of th process and the process is completed on January 1, Buena Montana Carpet Company had the following inventories: $6,200 1,100 Finished Goods Work in Process-Spinning Department Work in Process-Tufting Department Materials 2,700 4,200 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January are summarized as follows: Previous Next Final Questions Shaded cells hay 2. Compute the January 31 balances of the inventory accounts. Enter all amounts as positive numbers. $ Debit Materials Work in Process: Spinning Department Tufting Department Finished Goods $ $ Debit Debit Debit $ Points: 4/8 Feedback Check My Work Previous Check My Work All work saved. Save and Exit Submit Assignment fo Shaded cells have De Ja 3. Compute the January 31 balances of the factory overhead accounts. Enter all amounts as positive numbers. Factory Overhead: Spinning Department Tufting Department Credit Debit $ Points: 2/4 Feedback Check My Work 3. Set up T accounts to helo determine the balances from the transactions above. Previous Check My Work All work saved Save and Exit Submit Assignment fc Show 1 Materials purchased on account, $81,200 2 Materials requisitioned for use: Fiber - Spinning Department, $43,000 Carpet backing - Tufting Department, $34,200 Indirect materials -- Spinning Department, $3,500 Indirect materials -- Tufting Department, $2,800 31 Labor used: Direct labor-Spinning Department, $27,600 Direct labor-Tufting Department, $17,900 Indirect labor-Spinning Department, $11,800 Indirect labor-Tufting Department, $11,700 Depreciation charged on fixed assets: Spinning Department, $5,300 Tufting Department, $3,700 Expired prepaid factory insurance: Spinning Department, $1,300 Tufting Department, $1,100 Applied factory overhead: Spinning Department, $22,200 Tufting Department, $18,950 31 31 31 Check My Work Show Me How 31 31 Labor used: Direct labor-Spinning Department, $27,600 Direct labor- Tufting Department, $17,900 Indirect labor-Spinning Department, $11,800 Indirect labor-Tufting Department, $11,700 Depreciation charged on fixed assets: Spinning Department, $5,300 Tufting Department, $3,700 Expired prepaid factory insurance: Spinning Department, $1,300 Tufting Department, $1,100 Applied factory overhead: Spinning Department, $22,200 Tufting Department, $18,950 31 Production costs transferred from Spinning Department to Tufting Departme Production costs transferred from Tufting Department to Finished Goods, $1 Cost of goods sold during the period, $153,400 31 31 31 31 Required: 1. Journalize the entries to record the operations, using the dates provided with the summary o the chart of accounts for the exact wording of the account titles. CNOW journals do not use ok My Work track the costs that were accumulated in that departm nal Questions 2. Compute the January 31 balances of the inventory accounts. Enter all ar Materials $ Debit Work in Process: $ Debit Spinning Department Tufting Department Debit $ $ Finished Goods Debit Feedback Check My Work 2. Set up T accounts to help determine the balances from the transe 3 Camuto the lanuary 31 halanges of the factory ouerhaal accounts Check My Work Feedback Check My Work 2. Set up T accounts to help determine the balances from the transactio 3. Compute the January 31 balances of the factory overhead accounts. Enter a Factory Overhead: Spinning Department Tufting Department $ Credit $ Debit Feedback Check My Work 3. Set up T accounts to help determine the balances from the transactions Check My Work eBook Show Me How halize the entries to record the operations, using the dates provided with the summary of manufacturing operations. Refer to the chart of accounts of the accountitles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNC tically indent a credit entry when a credit amount is entered. bes grading work? JOURNAL Score: 346/346 ACCOUNTING POST. REF CREDIT LIABIL DEBIT 81,200.00 ASSETS T 81,200.00 T DATE DESCRIPTION lan 1 Materials Accounts Payable lan. 2 Work in Process Spinning Department Work in Process-Tufting Department Factory Overhead Spinning Department Factory Overhead-Tutting Department Materials San. 31" Work in Process Spinning Departmeot Work in Process-Tulting Department Factory Overhead Spinning Department 45,000.00 34,200.00 3,500.00 T 1 2.800.00 1 83,500.00 4 27,600.00 T 17,900.00 11.800.00 1 Check My Work eBook 11,700.00 1 69,000.00 1 5,300.00 3,700.00 1 9,000.00 1 1,300.00 1 Show Me How Factory Overhead-Tufting Department Wages Payable Jan. 31 Factory Overhead-Spinning Department Factory Overhead-Tuting Department Accumulated Depreciation Jan. 31 Factory Overhead-Spinning Department Factory Overhead-Tufting Department Prepaid Insurance Jan. 31' Work in Process Spinning Department Work In Process-Tufting Department Factory Overhead Spinning Department Factory Overhead-Tufting Department Jan, 31 Work in Process-Tufting Department Work in Process-Spinning Department 1,100.00 1 1 2,400.00 1 22,200.00 18,950.00 1 22,200.00 1 18,950.00 4 86,000.00 T 36,000.00 ! Jan 31 Finished Goods 150,400.00 T 150,400.00 Work in Process Tutting Department Jan 31" Cost of Goods Sold 153.40000 Finished Goods 153.400.00 Check My Work Previous Next > mok 2.400.00 1 22,200.00 18,950.00 1 4 Show Me How Prepaid Insurance Jan. 31 Work in Process Spinning Department Work in Process-Tutting Department Factory Overhead-Spinning Department Factory Overhead Tuting Department Jan. 31 Work in Process-Tutting Department Work in Process Spinning Department Jan 31" Finished Goods Work in Process Tuning Department Jan 31 Cost of Goods Sold 22,200.00 18.950.00 B6,000.00 1 86.000.00 150,400.00 T 150,400.00 153,400.00 Finished Goods 153,400.00 Point w Dumerber that we were there to proceeded goods. Each drei Work in Pro Check My Work Previous eBook Show Me How Final Questions Shaded cells have feedback 2. Compute the January 31 balunces of the inventory accounts. Enter al amounts as positive numbers Debit Materiais Work in Process Spinning Department Tutting Department Finished Goods Debit s Debit Debit Points Feedback Check My Work 2. Set up accounts to help determine the balances from the transactions above, 3. Compute the January 31 balances of the factory overhead accounts. Enteral amounts as positive numbers, Factory Overhead - Spinning Department $ Credit Check My Work Points: 4/8 Feedback Check My Work 2. Set up Taccounts to help determine the balances from the transactions above. 3. Compute the January 31 batances of the factory overhead bounts. Enter all amounts as positive enamtsers. Factory Overhead Spinning Departments - Tutting Department Credit Debit