Port Ormond Carpet Company manutactures carpets. Fiber ha placed in process in the Spinning Department, where it is spun into yam. The output of the Spinning Department is transterred to the Tulting Department where carpet bocking is added at tho beginning of the process and the process is complefed, On January 1, Port Ormond Carpet Company had the following inventories: Departrental accounts are maintained for tactory overhead, and both have zero balances on January 1 Manutacturing operations for Jenuary are sumenerited as follows: 31 Depreciation charged on fixed assets: Spinning Department, $5,400 Tufting Department, $4,000 31 Expired prepaid factory insurance: Spinning Department, $1,100 Tufting Department, $800 31 Applied factory overhead: Spinning Department, \$22,200 Tufting Department, $18,950 31 Production costs transferred from Spinning Department to Tufting Department, $89,500 31 Production costs transferred from Tufting Department to Finished Goods, $151,400 31 Cost of goods sold during the period, $154,200 Required: 1. Journalize the entries to record the operations, using the dates provided with the summary of manufacturing operations. 2. Compute the January 31 balances of the inventory accounts. 3. Compute the January 31 balances of the factory overhead accounts. 31 Labor used: Direct labor-Spinning Department, \$26,600 Direct labor-Tutting Department $17,600 Indirect labor-Spinning Department, $11,900 Indirect labor-Tufting Department, $11,800 31. Depreciation charged on fixed assets: Spinning Department, $5.400 Tufting Dopartment, $4,000 31 Expired prepaid factory insurance: Spinning Department, $1,100 Tutting Department, $800