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, $27,000; and Firing Department, $4,500. b. Direct labor costs: Molding Department, $18,600; and Firing Department, $4,600. c. Manufacturing overhead was applied: Molding Department, $23,700; and Firing Department, $37,900. 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 $108,600. f. Finished bricks were sold to customers. The cost of the finished bricks sold was $106,200. 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 1 2 3456 Record issuance of raw materials for use in production. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Work in process-Molding Department Work in process-Firing Department 27,000 4,500 Raw materials 31,500
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, $27,000; and Firing Department, $4,500. b. Direct labor costs: Molding Department, $18,600; and Firing Department, $4,600. c. Manufacturing overhead was applied: Molding Department, $23,700; and Firing Department, $37,900. 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 $108,600. f. Finished bricks were sold to customers. The cost of the finished bricks sold was $106,200. 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 1 2 3456 Record issuance of raw materials for use in production. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Work in process-Molding Department Work in process-Firing Department 27,000 4,500 Raw materials 31,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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, $27,000; and Firing Department, $4,500.
b. Direct labor costs: Molding Department, $18,600; and Firing Department, $4,600.
c. Manufacturing overhead was applied: Molding Department, $23,700; and Firing Department, $37,900.
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
$108,600.
f. Finished bricks were sold to customers. The cost of the finished bricks sold was $106,200.
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
1
2
3456
Record issuance of raw materials for use in production.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
a.
Work in process-Molding Department
Work in process-Firing Department
27,000
4,500
Raw materials
31,500
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