Spoilage due to internal failure. Lathan's Wood Products company manufactures eustom wooden cabinets and furniture. During the current period, 80 table legs were incorrectly shaped on job 5587 in the Lathe Department and had ti be replaced. Although the defective table legs cannot be used on the job , they can ve sold to a local lumber company for $ 1.50 each. The cost of the 80 defective table legs is : Materials (80 legs x $ 2.00 each)......................................... $ 160 Labor (2 hours x $ 12.00 per hour)...................................... 24 Factory overhead (2 hours x $24.00 per hour).................... 48 Total cost of spoilage on job 5587...................................... $ 232 Required : Give the general journal entry to record spoilage cost and the transfer of the spoiled goods to a separate inventory account