Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the...

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Accounting

Quality Brick Company produces bricks in two processing departmentsMolding and Firing. Information relating to the companys operations in March follows:

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Raw materials used in production: Molding Department, $23,000; and Firing Department, $8,000.

Direct labor costs incurred: Molding Department, $12,000; and Firing Department, $7,000.

Manufacturing overhead was applied: Molding Department, $25,000; and Firing Department, $37,000.

Unfired, molded bricks were transferred from the Molding Department to the Firing Department. According to the companys process costing system, the cost of the unfired, molded bricks was $57,000.

Finished bricks were transferred from the Firing Department to the finished goods warehouse. According to the companys process costing system, the cost of the finished bricks was $103,000.

Finished bricks were sold to customers. According to the companys process costing system, the cost of the finished bricks sold was $101,000

1)Record issuance of raw materials for use in production.

Transaction General Journal Debit Credit
a.

2)Record direct labor costs incurred.

Note: Enter debits before credits

Transaction General Journal Debit Credit
b.

3) Record entry to apply manufacturing overhead.

Note: Enter debits before credits.

Transaction General Journal Debit Credit
c.

.

4) Record transfer of unfired, molded bricks from the Molding Department to the Firing Department.

Note: Enter debits before credits.

Transaction General Journal Debit Credit
d.

5)Record transfer of finished bricks from the Firing Department to the finished goods warehouse.

Note: Enter debits before credits.

Transaction General Journal Debit Credit
e.

6)Record cost of goods sold.

Note: Enter debits before credits.

Transaction General Journal Debit Credit
f.

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