Quality Brick Company produces bricks in two processing departments-molding and
ID: 2410641 • 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: Exercise 4-1 Process Costing Journal Entries [LO 4-1] 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, $28,100; and Firing Department, $5,700. b. Direct labor costs were incurred: Molding Department, $16,900; and Firing Department, $5,200 c. Manufacturing overhead was applied: Molding Department, $23,600; and Firing Department, $36,500. 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 $65,300. to the company's process costing system, the cost of the finished bricks was $107,600. the finished bricks sold was $106,100 e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According t. 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. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list ournal entry worksheet Record issuance of raw materials for use in productiorn Note: Enter debits before credits Debit Credlin in processExplanation / Answer
Answer:
Transaction
General Journal
Debit $
Credit $
a
Work in process-Molding Department
28100
Work in process-Firing Department
5700
Raw materials
33800
b
Work in process-Molding Department
16900
Work in process-Firing Department
5200
Wages payable
22100
C
Work in process-Molding Department
23600
Work in process-Firing Department
36500
Manufacturing overhead
60100
D
Work in process-Firing Department
65300
Work in process-Molding Department
65300
E
Finished goods
107600
Work in process-Firing Department
107600
F
Cost of goods sold
106100
Finished goods
106100
Transaction
General Journal
Debit $
Credit $
a
Work in process-Molding Department
28100
Work in process-Firing Department
5700
Raw materials
33800
b
Work in process-Molding Department
16900
Work in process-Firing Department
5200
Wages payable
22100
C
Work in process-Molding Department
23600
Work in process-Firing Department
36500
Manufacturing overhead
60100
D
Work in process-Firing Department
65300
Work in process-Molding Department
65300
E
Finished goods
107600
Work in process-Firing Department
107600
F
Cost of goods sold
106100
Finished goods
106100