Materials purchased on account, $82,700 2 Materials requisitioned for use: Fiber-Spinning Department, $43,800 Carpet backing-Tufting Department, $34,900 Indirect materials-Spinning Department, $3,200 Indirect materials-Tufting Department, $2,800 31 Labor used: Direct labor-Spinning Department, $27,000 Direct labor-Tufting Department, $17,400 Indirect labor-Spinning Department, $11,600 Indirect labor-Tufting Department, $11,700 31 Depreciation charged on fixed assets: Spinning Department, $5,200 Tufting Department, $3,100 31 Expired prepaid factory insurance: Spinning Department, $1,500 Tufting Department, $1,000 31 Applied factory overhead: Spinning Department, $21,850 Tufting Department, $18,350 31 Production costs transferred from Spinning Department to Tufting Department, $86,000 31 Production costs transferred from Tufting Department to Finished Goods, $152,800 31 Cost of goods sold during the period, $157,900

(1) Material Dr : 82,700, Cr : Account payable 82,700, work in process spinning department Dr 43,800, Tufting department Dr: 34,900, factory overhead spinning department Dr 3,200, Tufting department Dr 2,800, Material Cr : 84,700, work in process spinning department Dr 27,000, work in process Tufting department Dr 17,400, Factory Overhead spinning department Dr 11,600, Factory Overhead Tufting department Dr 11,700, wages payable Cr 67,700, Factory Overhead Dr 8,300 Accumulated depreciation Cr 8,300, Factory Overhead Dr 2,500 Prepaid insurance Cr 2,500, work in process spinning department Dr 21,850, Tufting department Dr 18,350, Factory Overhead spinning department Cr 21,850, Tufting department Cr 18,350, work in process Tufting department Dr 86,000 work in process spinning department Cr 86,000, finished good Inventory Dr 152,800, work in process Tufting department Cr 152,800, cost of good sold Dr 157,900, finished good Inventory Cr 157,900 (2) Ending balance material $6,200, work in process spinning department $8,450, work in process Tufting department ($79,250) finished good ($300) (3) Ending balance factory overhead Account spinning department ($1,850) Tufting department ($750)

Explanation:

The question is not complete, here is the missing part of the question

Floor mate carpet company manufactures carpets. Fiber is placed in process in the spinning department, where it is span into yam. 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 October 1, Floor mate carpet company had the following inventories

Finished Good 8,200

Work in process spinning department 1,800

Work in process Tufting department 2,900

Materials. 4,800

At the end of the question, we were required to

1 Journalize the entries to record the operations, using the dates provided with the summary of manufacturing operations

2 Compute the ending balance of inventory Account

3 Compute the ending balance of factory Account

Here is the solution

Journal entry to record the operations

1 Materials Dr: 82,700, Account payable Cr: 82,700

2 work in process spinning department Dr: 43,800

Work in process Tufting department Dr : 34,900

Factory Overhead spinning department Dr: 3,200

Factory Overhead Tufting department Dr: 2,800

Materials Cr : 84,700

Materials requisition for use

31 work in process spinning department Dr : 27,000

,work in process Tufting department Dr : 17,400

Factory Overhead spinning department Dr: 11,600

Factory Overhead Tufting department Dr : 11,700

Wages Payable Cr: 67,700

Being wages due

31 Factory Overhead spinning department Dr 5,200

Factory Overhead Tufting department Dr : 3,100

Accumulated depreciation Cr: 8,300

31 Factory Overhead spinning department Dr : 1,500

Factory Overhead Tufting department Dr : 1,000

Prepaid insurance Cr: 2,500

( prepaid insurance expired )

31 work in process spinning department Dr : 21,850

Work in process Tufting department Dr : 18,350

Factory Overhead spinning department Cr 21,850

Factory Overhead Tufting department Cr : 18,350

(Factory Overhead allocated to each department )

31 work in process Tufting department Dr : 86,000

Work in process spinning department Cr : 86,000

( production cost transfered from spinning department to Tufting department)

31 Finished good Inventory Dr: 152,800

Work in process Tufting department Cr : 152,800

(Production cost transfered from Tufting department to finished goods )

31 Cost of good sold Dr: 157,900

Finished good Inventory Cr: 157,900

(Cost of good sold during the period)

2 To compute balance of inventory Account

Materials. Work in process. Finished good

Spinning department Tufting department

BegBal 8,200. 1,800. 2,900. 4,800

Add Addition 82,700. 92,650. 70,650. 152,800

Less: Uses. 84,700. 86,000. 152,800. 157,900

Ending Bal. 6,200. 8,450. (79,250) (300)

3. To compute balance of factory overhead Account

Spinning department Tufting department

Beg Bal. 3,200. 2,800

Add: Used in the period. 11,600. 11,700

Add: Accumulated depreciation 5,200. 3,100

Less: Factory Overhead Allocated 21,850. 18,350

Ending Bal. (1,850) (750)

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