Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the companys operations in March follows: Please help answer I will

Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the companys operations in March follows:

Please help answer I will be sure to leave an upvote

Raw materials used in production: Molding Department, $23,000; and Firing Department, $8,000.

Direct labor costs incurred: Molding Department, $12,000; and Firing Department, $7,000.

Manufacturing overhead was applied: Molding Department, $25,000; and Firing Department, $37,000.

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 $57,000.

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 $103,000.

Finished bricks were sold to customers. According to the companys process costing system, the cost of the finished bricks sold was $101,000

1)Record issuance of raw materials for use in production.

Transaction General Journal Debit Credit
a.

2)Record direct labor costs incurred.

Note: Enter debits before credits

Transaction General Journal Debit Credit
b.

3) Record entry to apply manufacturing overhead.

Note: Enter debits before credits.

Transaction General Journal Debit Credit
c.

.

4) Record transfer of unfired, molded bricks from the Molding Department to the Firing Department.

Note: Enter debits before credits.

Transaction General Journal Debit Credit
d.

5)Record transfer of finished bricks from the Firing Department to the finished goods warehouse.

Note: Enter debits before credits.

Transaction General Journal Debit Credit
e.

6)Record cost of goods sold.

Note: Enter debits before credits.

Transaction General Journal Debit Credit
f.

Please help answer I will be sure to leave an upvote

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions