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, $28,400; and Firing Department, $5,200.
Direct labor costs incurred: Molding Department, $18,500; and Firing Department, $4,900.
Manufacturing overhead was applied: Molding Department, $23,900; and Firing Department, $35,400.
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 $65,800.
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 $107,200.
Finished bricks were sold to customers. According to the companys process costing system, the cost of the finished bricks sold was $105,300.
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.)
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, $28,400; and Firing Department, $5,200.
Direct labor costs incurred: Molding Department, $18,500; and Firing Department, $4,900.
Manufacturing overhead was applied: Molding Department, $23,900; and Firing Department, $35,400.
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 $65,800.
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 $107,200.
Finished bricks were sold to customers. According to the companys process costing system, the cost of the finished bricks sold was $105,300.
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.)
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, $28,400; and Firing Department, $5,200.
Direct labor costs incurred: Molding Department, $18,500; and Firing Department, $4,900.
Manufacturing overhead was applied: Molding Department, $23,900; and Firing Department, $35,400.
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 $65,800.
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 $107,200.
Finished bricks were sold to customers. According to the companys process costing system, the cost of the finished bricks sold was $105,300.
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.)
Work in processMolding Departmentselected answer correct | 28,400selected answer correct | not attempted | ||
Work in processFiring Departmentselected answer correct | 5,200selected answer correct | not attempted | ||
Raw materialsselected answer correct | not attempted | 33,600selected answer correct | ||
2 | b. | Work in processMolding Departmentselected answer correct | 18,500selected answer correct | not attempted |
Work in processFiring Departmentselected answer correct | 4,900selected answer correct | not attempted | ||
Salaries and wages payableselected answer correct | not attempted | 23,400selected answer correct | ||
3 | c. | Work in processMolding Departmentselected answer correct | 23,900selected answer correct | not attempted |
Work in processFiring Departmentselected answer correct | 35,400selected answer correct | not attempted | ||
Manufacturing overheadselected answer correct | not attempted | 59,300selected answer correct | ||
4 | d. | Work in processFiring Departmentselected answer correct | 65,800selected answer correct | not attempted |
Work in processMolding Departmentselected answer correct | not attempted | 65,800selected answer correct | ||
5 | e. | Finished goodsselected answer correct | 107,200selected answer correct | not attempted |
Work in processFiring Departmentselected answer correct | not attempted | 107,200selected answer correct | ||
6 | f. | Cost of goods soldselected answer correct | 105,300selected answer correct | not attempted |
Finished goodsselected answer correct |
Explanation
No further explanation details are available for this problem.
Explanation
No further explanation details are available for this problem.
Explanation
No further explanation details are available for this problem.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started