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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 $6,500 Materials 2 Materials Department, $3.400 Indirect materials-Tufting Department, $2,700 Department, $26,600 Instructions Direct labor-Tufting Department, $17,600 Indirect labor-Spinning Department, $11,900 Indirect labor-Tufting Department, $11,800 Depreciation charged on fixed assets: Spinning Department, $5,400 Tufting Department, $4,000 31 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 Required 1. Journalize the entries to record the operations, using the dates provided with the summary of manufacturing operations. Refer to the Chart of Accounts for exact wording of account titles 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 positive value. previo In Final Questions 2. Compute the January 31 balances of the inventory accounts Enter your amounts in positive value. Work in Process: Spinning Department S Tufting Department Finished Goods 3. Compute the January 31 balances of the factory overhead accounts. Enter your amounts in positive value Factory Overhead Spinning Department S Pre Check hy Work4more Check My Wot