Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information refating to the company's...

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Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information refating to the company's operations in March follows: a. Raw materials used in production: Molding Department, $27,800; and Firing Department, $4,200. b. Direct labor costs incurred: Molding Department, $16,000; and Firing Department, $4,700. c. Manufacturing overhead was applied: Molding Department, $22,100; and Firing Department, $35,600. 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 $69700. 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 $108,700. t Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $103,400. Required: Prepare journal entries to record items (a) through () above. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) View transaction list Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information refating to the company's operations in March follows: a. Raw materials used in production: Molding Department, $27,800; and Firing Department, $4,200. b. Direct labor costs incurred: Molding Department, $16,000; and Firing Department, $4,700. c. Manufacturing overhead was applied: Molding Department, $22,100; and Firing Department, $35,600. 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 $69700. 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 $108,700. t Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $103,400. Required: Prepare journal entries to record items (a) through () above. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account fleld.) View transaction list

Answer rating: 100% (QA)

Journal Entries SNo General Journal Debit Credit Work in Process Inventory Molding Department ... View the full answer