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Homework Manager - 116B Man..

Homework Manager - 116B Man.. - Homework Manager 116B...

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Question 1: Score 2/2 Your response Correct response Exercise 4-1 Process Costing Journal Entries [LO1] Arizona Brick Corporation produces bricks in two processing departments—Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials were issued for use in production: Molding Department, $28,400; and Firing Department, $4,200. b. Direct labor costs were incurred: Molding Department, $18,900; and Firing Department, $5,600. c. Manufacturing overhead was applied: Molding Department, $24,200; and Firing Department, $39,900. 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 $68,100. e. 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 $108,700. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $107,600. Required: Prepare journal entries to record items (a) through (f) above. (Omit the "$" sign in your response.) General Journal Debit Credit a. Work in process-Firing Department (3%) 4200 (3%) Work in process-Molding Department (3%) 28400 (3%) Raw materials (3%) 32600 (3%) b. Work in process-Firing Department (3%) 5600 (3%) Work in process-Molding Department (3%) 18900 (3%) Wages payable (3%) 24500 (3%) c. Work in process-Firing Department (3%) 39900 (3%) Work in process-Molding Department (3%) 24200 (3%) Manufacturing overhead (3%) 64100 (3%) d. Work in process-Firing Department (3%) 68100 (3%) Work in process-Molding Department (3%) 68100 (3%) e. Finished goods (3%) 108700 (3%) Work in process-Firing Department (3%) 108700 (3%) f. Cost of goods sold (3%) 107600 (3%) Finished goods (3%) 107600 (3%) Exercise 4-1 Process Costing Journal Entries [LO1] Arizona Brick Corporation produces bricks in two processing departments—Molding and Firing. Information relating to the company's operations in March follows: a. Raw materials were issued for use in production: Molding Department, $28,400; and Firing Department, $4,200. b. Direct labor costs were incurred: Molding Department, $18,900; and Firing Department, $5,600. c. Manufacturing overhead was applied: Molding Department, $24,200; and Firing Department, $39,900. 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 $68,100. e. 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 $108,700. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $107,600. Required: Prepare journal entries to record items (a) through (f) above. (Omit the "$" sign in your response.) General Journal Debit Credit a. Work in process-Molding Department 28400 Work in process-Firing Department 4200 Raw materials 32600 b.
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