Manufacturing operations for January are summarized as follows:

a$.$ Materials purchased on account

$$500,000$

b$.$ Materials requisitioned for use:

Fiber$-$Spinning Department

$$275,000$

Carpet backing$-$Tufting Department

$110,000$

Indirect materials$-$Spinning Department

$46,000$

Indirect materials$-$Tufting Department

$39,500$

c$.$ Labor used:

Direct labor$-$Spinning Department

$$185,000$

Direct labor$-$Tufting Department...

Indirect labor$-$Spinning Department

$98,000$

Indirect labor$-$Tufting Department

$18,500$

d$.$ Depreciation charged on fixed assets:

$9,000$

Spinning Department

Tufting Department

$$12,500$

e$.$ Expired prepaid factory insurance:

$8,500$

Spinning Department

Tufting Department

$$2,000$

f$.$ Applied factory overhead:

Spinning Department

$1,000$

Tufting Department

g$.$ Production costs transferred from Spinning Department to Tufting Department

$$80,000$

h$.$ Production costs transferred from Tufting Department to Finished Goods

$55,000$

i$.$ Cost of goods sold during the period

$$547,000$

$$807,200$

$$795,200$

Instructions

Journalize the entries to record the operations, identifying each entry by letter.

Compute the January $31$ balances of the inventory accounts.

Compute the January $31$ balances of the factory overhead accounts.