Question

Quality Brick Company produces bricks in two processing departments—Molding and Firing. Information relating to the company’s operations in March follows:

1. Raw materials used in production: Molding Department, $29,500; and Firing Department, $4,800.
2. Direct labor costs incurred: Molding Department, $18,800; and Firing Department, $5,500.
3. Manufacturing overhead was applied: Molding Department, $22,400; and Firing Department, $36,800.
4. 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 $68,800.
5. 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.
6. Finished bricks were sold to customers. According to the company’s process costing system, the cost of the finished bricks sold was $103,100.

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.)

Answer 1

Answer
Date	Account Titles and Explanation	Debit	Credit
a	Work in process-Molding Department	$        29,500
	Work in process-Firing Department	$          4,800
	Raw materials		$        34,300
b	Work in process-Molding Department	$        18,800
	Work in process-Firing Department	$          5,500
	Wages payable		$        24,300
c	Work in process-Molding Department	$        22,400
	Work in process-Firing Department	$        36,800
	Manufacturing overhead		$        59,200
d	Work in process-Firing Department	$        68,800
	Work in process-Molding Department		$        68,800
e	Finished goods	$      108,800
	Work in process-Firing Department		$      108,800
f	Cost of goods sold	$      103,100
	Finished goods		$      103,100