American Public University Operations And Supply Chain Management Assignment Help - Company manufactures

Question - Design Flooring 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 July 1, Design Flooring Carpet Company had the following inventories: Finished
Goods...........................................$5,600 W ork in Process - Spinning Department .....900 Work in
Process - Tufting Department ......1,400 Materials...........................................................4,200 -
Departmental accounts are maintained for factory overhead, and both have zero balances on July 1.
Manufacturing operations for ...Read More July are summarized as follows: a. Materials purchased on account $$
84,600 b. Materials requisitioned for use: Fiber"Spinning Department $ 42,800 Carpet backing"Tufting
Department 34,400 Indirect materials"Spinning Department 3,200 Indirect materials"Tufting
Department 2,800 c. Labor used: Direct labor"Spinning Department $ 24,200 Direct labor"Tufting
Department 18,700 Indirect labor"Spinning Department 12,300 Indirect labor"Tufting Department
11,900 d. Depreciation charged on fixed assets: Spinning Department $ 5,300 Tufting Department
3,100 e. Expired prepaid factory insurance: Spinning Department $ 1,200 Tufting Department 900 f.
Applied factory overhead: Spinning Department $ 21,600 Tufting Department 19,500 g. Production
costs transferred from Spinning Department to Tufting Department $ 87,200 h. Production costs
transferred from Tufting Department to Finished Goods $159,200 i. Cost of goods sold during the
period $160,300 Instructions: Journalize the entries to record the operations, identifying each entry by
letter. Compute the July 31 balances of the inventory accounts. Compute the July 31 balances of the
factory overhead accounts. ...Read Less

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