4-1 4-2 4-3 Excel Template.xlsx - 4-1 Process Costing...

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4-1 - Process Costing Journal Entries a. Raw materials used in production: Molding Department, $23,000; and Firing Department, $8,000 b. Direct labor costs incurred: Molding Department, $12,000; and Firing Department, $7,000 c. MOH was applied; Molding Department, $25,000; Firing Department, $37,000 Quality Brick Company produces bricks in tow processing departments - Molding and Firing. Prepare journal entries to record items (a) through (f) below. 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 $57,000. 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 $103,000. f. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finished bricks sold was $101,000.
4-2 - Equivalent Units of Production - Weighted Average Method

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