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: 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

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

Auditing And Assurance Services An Integrated Approach

Authors: Alvin Arens

13th Edition

0136084737, 9780136084730

More Books

Students also viewed these Accounting questions

Question

Do you agree with the results/recommendations?

Answered: 1 week ago