Manufacturing operations for January are summarized as follows:
a Materials purchased on account
$
b Materials requisitioned for use:
FiberSpinning Department
$
Carpet backingTufting Department
Indirect materialsSpinning Department
Indirect materialsTufting Department
c Labor used:
Direct laborSpinning Department
$
Direct laborTufting Department...
Indirect laborSpinning Department
Indirect laborTufting Department
d Depreciation charged on fixed assets:
Spinning Department
Tufting Department
$
e Expired prepaid factory insurance:
Spinning Department
Tufting Department
$
f Applied factory overhead:
Spinning Department
Tufting Department
g Production costs transferred from Spinning Department to Tufting Department
$
h Production costs transferred from Tufting Department to Finished Goods
i Cost of goods sold during the period
$
$
$
Instructions
Journalize the entries to record the operations, identifying each entry by letter.
Compute the January balances of the inventory accounts.
Compute the January balances of the factory overhead accounts.
