Question
Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the companys operations in March follows: Raw materials used in production:
Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the companys operations in March follows:
Raw materials used in production: Molding Department, $29,500; and Firing Department, $6,000.
Direct labor costs incurred: Molding Department, $19,000; and Firing Department, $5,000.
Manufacturing overhead was applied: Molding Department, $24,800; and Firing Department, $38,300.
Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the companys process costing system, the cost of the unfired, molded bricks was $68,100.
Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the companys process costing system, the cost of the finished bricks was $108,700.
Finished bricks were sold to customers. According to the companys process costing system, the cost of the finished bricks sold was $105,800.
Required:
Prepare journal entries to record items (a) through (f) above
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, $29,500; and Firing Department, $6,000. b. Direct labor costs incurred: Molding Department, $19,000; and Firing Department, $5,000. c. Manufacturing overhead was applied: Molding Department, $24,800; and Firing Department, $38,300. 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 $68,100. 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 $108,700. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $105,800. 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 creditsStep by Step Solution
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