a. Raw materials used in production: Molding Department, $29,100; and Firing Department, $5,000. b. Direct labor costs incurred: Molding Department, $18,100; and Firing Department, $4,400. c. Manufacturing overhead was applied: Molding Department, $25,700; and Firing Department, $35,900. 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 $69,600. 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 $108,400. 1. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finish bricks sold was $103,700. Required:

a. Raw materials used in production: Molding Department, $29,100; and Firing Department, $5,000. b. Direct labor costs incurred: Molding Department, $18,100; and Firing Department, $4,400. c. Manufacturing overhead was applied: Molding Department, $25,700; and Firing Department, $35,900. 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 $69,600. 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 $108,400. 1. Finished bricks were sold to customers. According to the company's process costing system, the cost of the finish bricks sold was $103,700. Required:

Name: Quality Brick Company produces bricks in two processing departments-M
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Quality Brick Company produces bricks in two processing departments-Molding and Firing. Information relating to thecompany's operations in March follows:a. Raw materials used in production: Molding Department, $29,100; and Firing Department, $5,000.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 12P: Petrini Products Co. has two departments: Mixing and Cooking. At the beginning of the month, Cooking...

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Rockford Company has four departmental accounts: Building Maintenance, General Factory Overhead, Machining, and Assembly. The direct labor hour method is used to apply factory overhead to the jobs being worked on in Machining and Assembly. The company expects each production department to use 30,000 direct labor hours during the year. The estimated overhead rates for the year include the following: During the year, both Machining and Assembly used 28,000 direct labor hours. Factory overhead costs incurred during the year follow: In determining application rates at the beginning of the year, cost allocations were made as follows, using the sequential distribution method: Building Maintenance to: General Factory Overhead, 10%; Machining, 50%; Assembly, 40%. General factory overhead was distributed according to direct labor hours. Required: Determine the under- or overapplied overhead for each production department. (Hint: First you must distribute the service department costs.)
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