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Exercise 5-1 (Algo) Process Costing Journal Entries [LO 5-1] Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the
Exercise 5-1 (Algo) Process Costing Journal Entries [LO 5-1] 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, $28,600; and Firing Department, $5,300. b. Direct labor costs incurred: Molding Department, $17,900; and Firing Department, $4,900. c. Manufacturing overhead was applied: Molding Department, $22,700; and Firing Department, $38,500. 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 $65,700. 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 $107,900. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $106,000. 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 field.) View transaction list Journal entry worksheet < 1 2 3 4 5 6 Record issuance of raw materials for use in production. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal >
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