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https://newconnect.mheducation.com/flow/connect.html rs Home FAFSA on theTaskstream: Assessm 3-1 Week 3 Practice FA myFranklin Franklin Useful Phrases in OldD WIVQFM Triton Dic S Login Other bookmark Saved Help Save & Exit Submit Check my work 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, $4,000. b. Direct labor costs incurred: Molding Department, $19,200; and Firing Department, $4,100. c. Manufacturing overhead was applied: Molding Department, $22,400; and Firing Department, $35,200 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 $69,000 costing system, the cost of the finished bricks was $108,200. was $103,800. e. Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the company's process f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold Required: Prepare journal entries to record items (a) through (f) above. (If no entry is required for a trans required" in the first account field.) action/event, select "No journal entry View transaction list Journal entry worksheet Prev 1of 3111 Next >Explanation / Answer
(a) Record issuance of raw materials for use in production
Work in process - molding dept. 27,000
Work in process - firing dept. 4,000
Raw materials 31,000
(b) Record direct labor costs incurred
Work in process - molding dept. 19,200
Work in process - firing dept. 4,100
Wages payable 23,300
(c) Record entry to apply manufacturing overhead
Work in process - molding dept. 22,400
Work in process - firing dept. 35,200
Manufacturing overhead 57,600
(d) Record transfer of unfired, molded bricks from the molding department to the firing department
Work in process - firing dept. 69,000
Work in process - molding dept. 69,000
(e) Record transfer of finished bricks from the firing department to the finished goods warehouse
Finished goods 1,08,200
Work in process - firing dept. 1,08,200
(f) Finished bricks were sold to customer
Cost of goods sold 1,03,800
Finished goods 1,03,800
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