M a in.do?invoker=8takeAssignmentSessionLocator=&inprogress=false eBook Show Me How Calculator Entries for process cost system Print tem Instructions Chart of Accounts Journal Final Questions Instructions Port Omond 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 tanstered to the Tuting Department, where carpet backing is added at the beginning of the process and the process is completed on January 1, Port Ormond Carpet Company had the following inventories: Finished Goods Work in Process Spinning Department Work in Process Tufting Department Materials went $8.400 1.600 2.100 4,500 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1 Manufacturing operations for January are summarized as follows lan 31 Work in Poos Spinning Department Check My Work Next Instructions Chart of Accounts Journal Final Questions Instructions Jan. 1 2 Materials purchased on account, $84,300 Materials requisitioned for use: Fiber-Spinning Department, $42,600 Carpet backing-Tufting Department, $34,500 Indirect materials-Spinning Department, $4,000 Indirect materials-Tutting Department, $2,500 31 Labor used Direct labor-Spinning Department, $27,200 Direct labor-Tutting Department, $18,600 Indirect labor-Spinning Department, $12,200 Indirect labor-Tufting Department, $11,800 Instructions 31 Depreciation charged on fixed assets: Spinning Department, $5,300 Tufting Department, $3,300 Expired prepaid factory insurance Spinning Department $1,200 31 Tufting Department, $1,000 31 Applied factory overhead: Spinning Department, $23,100 Tutting Department, $18,150 Production costs transferred from Spinning Department to Tutting Department, $86,000 Production costs transferred from Tutting Department to Finished Goods, $150,000 Cost of goods sold during the period, $154,500 31 31 31