5: Homework Saved Exercise 5-1 Process Costing Journal Entries [LO5-1) Quality Brick Company produces bricks in two processing departments --Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials used in production: Molding Department, $26,900; and Firing Department. $4,100. b. Direct labor costs incurred: Molding Department. $19,300, and Firing Department. $5,300. c. Manufacturing overhead was applied: Molding Department. $23,100, and Firing Department, $38,400. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the company's process costing system, the cost of the unfired, molded bricks was $68,300. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the company's process costing system, the cost of the finished bricks was $109,300 . Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $103,600 Required: Prepare journal entries to record items (a) through (1) above. (If no entry is requlred for a transaction/event, select "No Journal entry required" In the first account field.) 5 View transaction list Journal entry worksheet 1 2 5 6 Record issuance of raw materials for use in production. Notenter det before credits Transaction General Journal Debit Credit Homework Seved Required: Prepare journal entries to record items (a) through (f) above. (If no entry is required for a transaction/event, select "No journal entry required" In the first account fleld.) View transaction list Journal entry worksheet 2 3