They were Walsall loan man Morris' first goals for Kevin Wilkin's men, while Moult had netted in the 2-1 first leg victory at The Racecourse last week. Wrexham will now return to the stadium where they lifted The FA Trophy in 2013 after overcoming Grimsby Town in a penalty shoot-out.
It took a while for the game to get going, with the strong wind making it difficult for Torquay's Olliver Gueguen to find any men with his early attempted crosses.
Torquay United 0-3 Wrexham
The FA Trophy
Semi-Final second leg
3pm, Saturday 28 February 2015
Plainmoor, Torquay United
Winners receive £16,000 from prize fund
By Andy Lloyd-Williams
With the hosts doing their best to get a grip on the game, Luke Young and John Campbell combined well, but again the latter's cross was gathered in gratefully by Andy Coughlin in the Wrexham goal with 20 minutes played.
Keen to protect their 2-1 lead from the first leg, the Welsh side were in no rush with set pieces and spent time recovering from the knocks they received - Connor Jennings in particular spending his fair share of time on the turf.
They did come into the game more as half time approached, with Moult just missing the target with a header before having a shot blocked by Gueguen.
But then Torquay came so close to levelling the tie. After Luke Waterfall was yellow carded for fouling Ryan Bowman just outside the box, Young curled the ball round the wall and narrowly wide of Coughlan's goal.
They were made to pay for not making the most of the possession they enjoyed in the first half as Wrexham stormed out of the blocks after the break, with Martin Rice coming under immediate pressure as he was forced to punch an early corner out of his box.
The men in red and black steadily built up a head of steam and were rewarded when Moult headed home at the near post from a Dean Keates free-kick with under half an hour remaining. He was quickest off the mark and made no mistake with the free header he was presented with somewhat hospitably by the home defence.
It was then do-or-die for the Gulls, but unfortunately for them it was the latter as Morris scored twice in quick succession to delight the 372 travelling supporters, and send the Plainmoor faithful for the exits.
In the Devon side's desperate search to find a way into the game, it was understandable that they would leave gaps at the back, and the Walsall loan man profited when he was able to side-foot home on 73 minutes, and then make it a brace when Moult unselfishly squared for him just minutes later.
It could have been more as the rain began to lash down at quarter to five, but a 5-1 aggregate win was more than enough for clinical Wrexham, who reaped the rewards of keeping Chris Hargreaves' men quiet in the opening exchanges before delivering their three killer blows.
Wembley now awaits Wrexham fans on Sunday 29 March 2015 when they will face North Ferriby United.
Torquay United: 1 Martin Rice, 4 Aaron Downes, 21 Angus MacDonald, 25 Levi Ives, 26 Olliver Gueguen, 8 Luke Young, 10 Toby Ajala, 16 Courtney Richards, 22 James McQuilkin, 32 John Campbell, 9 Ryan Bowman.
Substitutes: Jordan Chapell for McQuilken, 57.
Subs not used: 5 Krystian Pearce, 7 Louis Briscoe, 20 Jamie Reid, 24 Duane Ofori-Acheampong
Wrexham: 1 Andy Coughlin, 4 Emanuel Smith, 26 Luke Waterfall, 14 Steve Tomassen, 3 Neil Ashton, 6 Joe Clarke, 8 Jay Harris, 12 Dean Keates, 27 Kieron Morris, 9 Louis Moult , 24 Connor Jennings
Substitutes: Andy Bishop for Moult 76, Blaine Hudson for Waterfall 82, Rob Evans for Harris 88
Subs not used: 16 Wesley York, 29 Sam Finley.