Answered step by step
Verified Expert Solution
Question
1 Approved Answer
a. Raw materials used in production: Molding Department, $23,000, and Firing Department, $8,000. b. Direct labor costs incurred: Molding Department, $12,000; and Firing Department $7,000.
a. Raw materials used in production: Molding Department, $23,000, and Firing Department, $8,000. b. Direct labor costs incurred: Molding Department, $12,000; and Firing Department $7,000. c Manufacturing overhead was applied: Molding Department, $25,000; and Firing Department. $37,000. 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 $57,000. 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 $103,000. 1. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $101,000 43:43 . ok Required: Prepare journal entries to record items (a) through () above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) int View transaction list ences Journal entry worksheet 2 3 4 1 5 6 Record issuance of raw materials for use in production Note: Enter debits before credits Transaction General Journal Debit Credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started