Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need help with all of the journal entries. 1-6 Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the

image text in transcribed

image text in transcribed

I need help with all of the journal entries. 1-6

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, $29,100; and Firing Department, $4,800. b. Direct labor costs incurred: Molding Department, $18,000; and Firing Department, $4,600. c. Manufacturing overhead was applied: Molding Department, $22,400; 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 $65,100. 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 $103,600. 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.) Journal entry worksheet 3456 Record issuance of raw materials for use in production. Note: Enter debits before credits. Quality Buck Company produces bricks in two processing departments-Molding and Firing Information relating to the company's operations in March follows a. Raw matenals used in production. Molding Department, \$29,100, and Firing Department, \$4,800 b. Direct labor cosis incurred Molding Department, $18,000, and Firing Department, $4,600 c. Manufacturing overhead was applied Molding Department, \$2),100, and Firing Department, \$3/000 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 $65,100 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 $103,600 Required: Prepare joumal entries to record items (a) through (f) above. (If no entry is required for a transaction/event, select "No joumal entry required" in the first account field.) Journal entry worksheet 3456 Note: Enter debits before credits

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Complete Guide To Operational Auditing

Authors: Harry R. Reider

1st Edition

0471594199, 978-0471594192

More Books

Students also viewed these Accounting questions

Question

7. Identify six intercultural communication dialectics.

Answered: 1 week ago