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

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, $27,500; and Firing Department, $4,300. b. Direct labor costs: Molding Department, $17,900; and Firing Department, $4,100. c. Manufacturing overhead was applied: Molding Department, $24,500; and Firing Department, $38,400. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. The cost of the unfired, molded bricks was $66,200. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. The cost of the finished bricks was $107,600. f. Finished bricks were sold to customers. The cost of the finished bricks sold was $103,600. 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. 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, $27,500; and Firing Department, $4,300. b. Direct labor costs: Molding Department, $17,900; and Firing Department, $4,100. c. Manufacturing overhead was applied: Molding Department, $24,500; and Firing Department, $38,400. d. Unfired, molded bricks were transferred from the Molding Department to the Firing Department. The cost of the unfired, molded bricks was $66,200. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. The cost of the finished bricks was $107,600. f. Finished bricks were sold to customers. The cost of the finished bricks sold was $103,600. 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.

Answer rating: 100% (QA)

Quality Brick Company Journal Entries March a Raw Materials Used Date Account Title Debit Credit Mar ... View the full answer