please help!

Instructions Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yam. The output of the Spinning Department is transferred to the Tuting Department, where carpet backing is added at the beginning of the process and the process is completed On January 1, Port Omond Carpet Company had the following inventories Finished Goods Work in Process-Spinning Department Work in Process-Tutting Department Materia $7.200 1.000 2.400 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January areas o 1 Materials purchased on account, $80,000 2 Moned for Fiber-Spinning Departm$42.000 Carpet backing Tuting Department $34,600 Indirect manals-Spinning Department $3,000 Indirect materias-Tuting Dep2.000 31 Laborused: Direct labor-Spinning Department $2.000 Direct labor-Tuting Department $17.500 Indirect labor-Spinning Department $11.700 Indirect labor-Tuting Dep11800 31 Depreciation charged on d Spinning Department $5.300 Tuting Department $3.500 31 Expired prepaid factory insurance Spinning Department $1,300 Tuting Department, $1.000 31 Applied factory overhead Spinning Department $21.500 Tuting Department, $8.50 31 Production coststranstered from Spinning Department to Tutting Department $85.000 31 Production costs transleed from Tuting Department to Finished Goods $152.000 31 Cost of goods sold during the peod $155.300 Required: 1. Joumalize the entries to record the operations using the dates provided with the summary of manufacturing operations eller to the chart of accounts for the exact wording of the accounts ONOW joumals do not use ines for spaces or journal explanations Every Ine on a joumal pape is used for debit or credit entries. Do not add explanations or skip a line between joumal entries CNOW journals will automatically indent a credit entry when a credit amount is en 2. Compute the January 31 balances of the inventory accounts. 3. Compute the January 31 balances of the factory overhead accounts "Enter your amounts in Chart of Accounts ASSETS 110 Cash 121 Accounts Receivable 125 Notes Receivable 126 Interest Receivable 131 Materials 141 Work in Process-Spinning Department 142 Work in Process-Tufting Department 151 Factory Overhead-Spinning Department 152 Factory Overhead-Tufting Department 181 Finished Goods CHART OF ACCOUNTS Port Ormond Carpet Company General Ledger 171 Supplies 172 Prepaid Insurance 173 Prepaid Expenses 181 Land 191 Factory 192 Accumulated Depreciation-Factory LIABILITIES 210 Accounts Payable 221 Utilities Payable 231 Notes Payable 236 Interest Payable 251 Wages Payable EQUITY 311 Common Stock 340 Retained Earnings 351 Dividends 390 Income Summary REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 520 Wages Expense 531 Selling Expenses 532 Insurance Expense 533 Utilities Expense 534 Supplies Expense 540 Administrative Expenses 561 Depreciation Expense- Factory 590 Miscellaneous Expense 710 Interest Expense lize the entries to record the operations, using the dates provided with the summary of turing operations. Refer to the chart of accounts for the exact wording of the account titles. ournals do not use lines for spaces or journal explanations. Every line on a journal page is debit or credit entries. Do not add explanations or skip a line between journal entries. CNOW will automatically indent a credit entry when a credit amount is entered. ns on this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. 1 Materials DESCRIPTION Accounts Payable Work in Process Spinning Department Work in Process Tuting Department Factory Overhead-Spinning Department Factory Overhead-Tufting Department Materials Work in Process-Spinning Department Work in Process-Tufting Department JOURNAL POST REF DEBIT 80,000.00 42,000.00 34,600.00 3,000.00 2,900.00 CREDIT 80,000.00 ACCOUNTING FOTO ASSETS 1 1 T T T 74.900.00 Points PAGE 10 Score: 96/346 LIABILITIES EQUITY 1 18.03/65 > Entries for process cost system Instructions Chart of Accounts Journal Final Questions 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 $ S Points: Factory Overhead: - Spinning Department . $ Tufting Department $ 3. Compute the January 31 balances of the factory overhead accounts. Enter your amounts in positive value. 0/8 Points: 0/4 Feedback Check My Work 2. & 3. Set up T accounts to help determine the balances from the transactions above