Quality Brick Company produces bricks in two processing departments—Molding and Firing. Information relating to the company’s operations in March follows: Raw materials used in production: Molding Department, $28,700; and Firing Department, $5,900.Direct labor costs incurred: Molding Department, $19,700; and Firing Department, $5,300.Manufacturing overhead was applied: Molding Department, $23,900; and Firing Department, $38,100.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.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 $108,800.Finished bricks were sold to customers. According to the company’s process costing system, the cost of the finished bricks sold was $103,400. **Journal Entry Worksheet****Instruction:** Record issuance of raw materials for use in production.(Note: Enter debits before credits.)**Table Layout:**- **Columns:** - **Transaction**: Listed as "a." - **General Journal**: Space provided for entry details. - **Debit**: Space for debit amount. - **Credit**: Space for credit amount.**Actions:**- **Record entry**: Button to save entries.- **Clear entry**: Button to clear inputs.- **View general journal**: Button to access the main journal log.This worksheet is designed to help students learn how to record a journal entry for the issuance of raw materials in production accounting.

Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Answered: Quality Brick Company produces bricks…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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:

Raw materials used in production: Molding Department, $28,700; and Firing Department, $5,900.
Direct labor costs incurred: Molding Department, $19,700; and Firing Department, $5,300.
Manufacturing overhead was applied: Molding Department, $23,900; and Firing Department, $38,100.
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.
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 $108,800.
Finished bricks were sold to customers. According to the company’s process costing system, the cost of the finished bricks sold was $103,400.