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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, $29,000; and Firing Department, $5,600.
- Direct labor costs incurred: Molding Department, $17,600; and Firing Department, $5,600.
- Manufacturing overhead was applied: Molding Department, $25,700; and Firing Department, $35,700.
- 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 $70,000.
- 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 $108,000.
- Finished bricks were sold to customers. According to the companys process costing system, the cost of the finished bricks sold was $104,000.
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