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 the exact wording of the account titles. CNOWjournals do not use lines for spaces or journal explanations. Every line on a journal page is used for debitor credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST RER DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Instructions Journal 1 9 10 11 14 15 17 15 I 11 Journal 15 16 17 11 19 20 21 2 33 19 26 18 Final Questions 2. Compute the January 31 balances of the inventory accounts. Enter your amounts in positive value. Materials Work in Process S Spinning Department 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 Tufting Department ho LLLLLLLLIULIS Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting 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: Finished Goods $8,300 2,000 Work in Process-Spinning Department Work in Process-Tufting Department 2,600 Materials 4.800 Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January are summarized as follows: Jan 1 2. Materials purchased on account. $82,000 Materials requisitioned for use Fiber-Spinning Department. $42.600 Carpet backing-Tutting Department, $34,700 Indirect materials-Spinning Department$3300 Instructions 31 Labor used 31 31 Direct labor-Spinning Department, $26,300 Direct labor-Tufting Department, $17,200 Indirect labor-Spinning Department, $12,500 Indirect labor-Tulling Department, $11,900 Depreciation charged on fixed assets: Spinning Department. $5,300 Tufting Department. $3,100 Expired prepaid factory insurance: Spinning Department. $1,000 Tufting Department, $800 Applied factory overhead Spinning Department, $22.400 Tufting Department, $18.250 Production costs transferred from Spinning Department to Tufting Department, $90,000 Production costs transferred from Tufting Department to Finished Goods, S153 200 31 31 31 Check My Work Chart of Accounts Journal Final Questions Instructions 31 Tufting Department, $800 Applied factory overhead Spinning Department, 522,400 Tufting Department, $18,250 Production costs transferred from Spinning Department to Tufting Department, $90,000 Production costs transferred from Tufting Department to Fished Goods, 153,200 Cost of goods sold during the period, $158,000 31 31 31 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 the exact wording of the account titles. CNOW Journals do not use lines for spaces or journal explanations. Every line on a journal page is used for debitor credit entries. Do not add explanations or skip a line between journal entries. CNOW journals will automatically indent a credit entry when a credit amount is entered 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 Check My Work Tyne here to search O