Quality Brick Company produces bricks in two processing departments-Molding and
ID: 2406301 • Letter: Q
Question
Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to the company's operations in March follows a. Raw materials were issued for use in production: Molding Department, $29,000; and Firing Department, $4,200 b. Direct labor costs were incurred: Molding Department, $17,200; and Firing Department, $4,900 c. Manufacturing overhead was applied: Molding Department, $22,200; and Firing Department, $35,900 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 $67,300 to the company's process costing system, the cost of the finished bricks was $108,700 the finished bricks sold was $104,300 e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According f. Finished bricks were sold to customers. According to the company's process costing system, the cost of 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.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit Work in process-Firing Department Work in process-Firing Department Raw materials a. b.Work in process-Molding Department Work in process-Firing DepartmentExplanation / Answer
a) Work in progress -molding department 29000 Work in progress -firing department 4200 Raw material inventory 33200 b) Work in progress -molding department 17200 Work in progress -firing department 4900 Wages payable 22100 c) Work in progress -molding department 22200 Work in progress -firing department 35900 Manufacturing overheads 58100 d) Work in progress -firing department 67300 Work in progress -molding department 67300 e) Finished goods inventory 108700 Work in progress -firing department 108700 f) Cost of goods sold 104300 Finished goods inventory 104300