Question
Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the companys operations in March follows: a. Raw materials were issued
Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the companys operations in March follows: a. Raw materials were issued for use in production: Molding Department, $29,500; and Firing Department, $5,100. b. Direct labor costs were incurred: Molding Department, $17,800; and Firing Department, $4,000. c. Manufacturing overhead was applied: Molding Department, $24,700; and Firing Department, $38,600. 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 $68,600. 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 $107,800. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $105,600.
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