Please complete entries for the following transactions: 1. record issuance of raw materials for use in productjon
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Please complete entries for the following transactions:
1. record issuance of raw materials for use in productjon
2. record direct labor costs incurred
3. record entry to apply manufscturing overhead
4. record transfer of unfired, molded bricks from the molding department to the firing department
5. record transfer of finished bricks from the diring department to the finished goods warehouse
6. record cost of goods sold
Transcribed Image Text:
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 used in production: Molding Department, $27,300; and Firing Department, $4,300. b. Direct labor costs: Molding Department, $16,300; and Firing Department, $5,800. c. Manufacturing overhead was applied: Molding Department, $22,600; and Firing Department, $36,500. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. The cost of the unfired, molded bricks was $68,100. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. The cost of the finished bricks was $107,500. 1. Finished bricks were sold to customers. The cost of the finished bricks sold was $106,000. Required: Prepare journal entries to record items (a) through (f) above. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Use a compound Journal entry as needed for each transaction. View transaction list Journal entry worksheet 2 3 4 5 6 Record issuance of raw materials for use in production. Note: Enter debits before credits. Transaction a. General Journal Debit Credit 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 used in production: Molding Department, $27,300; and Firing Department, $4,300. b. Direct labor costs: Molding Department, $16,300; and Firing Department, $5,800. c. Manufacturing overhead was applied: Molding Department, $22,600; and Firing Department, $36,500. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. The cost of the unfired, molded bricks was $68,100. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. The cost of the finished bricks was $107,500. 1. Finished bricks were sold to customers. The cost of the finished bricks sold was $106,000. Required: Prepare journal entries to record items (a) through (f) above. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Use a compound Journal entry as needed for each transaction. View transaction list Journal entry worksheet 2 3 4 5 6 Record issuance of raw materials for use in production. Note: Enter debits before credits. Transaction a. General Journal Debit Credit
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