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, $27,800; and Firing Department, $5,500. b. Direct labor costs incurred: Molding Department, $18,800; and Firing Department, $4,000. c. Manufacturing overhead was applied: Molding Department, $22,500; and Firing Department, $35,500. 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 $67,700. 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 $107,500. t. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $103,700. Required: Prepare journal entries to record items (a) through (1) above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 12 Record transfer of unfired, molded bricks from the Molding Department to the Firing Department. Note: Enter debits before credits. Transaction d. 3 Record entry 4 5 General Journal Clear entry 6 Debit Credit View general Journal

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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, $27,800; and Firing Department, $5,500.
b. Direct labor costs incurred: Molding Department, $18,800; and Firing Department, $4,000.
c. Manufacturing overhead was applied: Molding Department, $22,500; and Firing Department, $35,500.
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 $67,700.
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 $107,500.
f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold
was $103,700.
Required:
Prepare journal entries to record items (a) through (f) above. (If no entry is required for a transaction/event, select "No journal entry
required" in the first account field.)
View transaction list
Journal entry worksheet
1 2 3
Note: Enter debits before credits.
Transaction
d.
4
Record transfer of unfired, molded bricks from the Molding Department to the
Firing Department.
Record entry
5
General Journal
6
Clear entry
Debit
Credit
View general journal
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, $27,800; and Firing Department, $5,500. b. Direct labor costs incurred: Molding Department, $18,800; and Firing Department, $4,000. c. Manufacturing overhead was applied: Molding Department, $22,500; and Firing Department, $35,500. 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 $67,700. 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 $107,500. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $103,700. Required: Prepare journal entries to record items (a) through (f) above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Note: Enter debits before credits. Transaction d. 4 Record transfer of unfired, molded bricks from the Molding Department to the Firing Department. Record entry 5 General Journal 6 Clear entry Debit Credit View general journal
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