Business, 19.03.2021 18:40, JayKayaim123
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, $26,400; and Firing Department, $5,000.
b. Direct labor costs incurred: Molding Department, $17,000; and Firing Department, $4,600.
c. Manufacturing overhead was applied: Molding Department, $24,300; and Firing Department, $36,300.
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 $66,500.
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 $107,900.
f. Finished bricks were sold to customers. According to the company’s process costing system, the cost of the finished bricks sold was $104,600.
Required:
Prepare journal entries to record items (a) through (f) above.
Answers: 1
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Quality Brick Company produces bricks in two processing departments—Molding and Firing. Informatio...
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