Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please answer fully with neat charts, this is all ONE question. Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to

Please answer fully with neat charts, this is all ONE question.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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, $4,500, b. Direct labor costs incurred: Molding Department, $19,600; and Firing Department, $5,600. c. Manufacturing overhead was applied: Molding Department, $23,800; and Firing Department, $36,800. 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 $66,800. 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 $107,600. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $105,700. Prepore journal entries to record items (a) through (f) above. (If no entry is required for a transaction/event, select "No journal entry Required: required" in the first account field.) Journal entry worksheet 456 Record issuance of raw materiais for use in production. Notet Enter debits before credis. 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, $4,500. b. Direct labor costs incurred: Molding Department, $19,600; and Firing Department, $5,600, c. Manufacturing overhead was applied: Molding Department, $23,800; and Firing Department, $36,800. 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 $66,800. 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 $107,600. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $105,700. 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 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, $4,500. b. Direct labor costs incurred: Molding Department, $19,600; and Firing Department, $5,600. c. Manufacturing overhead was applied: Molding Department, $23,800; and Firing Department, $36,800. 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 $66,800. 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 $107,600. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $105,700. 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 Record entry to apply manufacturing overhead. Wotet Enter debits before credits: 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, $4,500. b. Direct labor costs incurred: Molding Department, $19,600; and Firing Department, $5,600. c. Manufacturing overhead was applied: Molding Department, $23,800; and Firing Department, $36,800. 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 $66,800. 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 $107,600. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $105,700. 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

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

Company Accounting

Authors: Ken Leo, Jeffrey Knapp, Susan Mcgowan, John Sweeting, Leah Meng

12th Edition

0730382672, 9780730382676

More Books

Students also viewed these Accounting questions

Question

How can a firm successfully undertake price discrimination

Answered: 1 week ago