BE $17-7$ Process Costing Journal Entries

Obj. $3$

In October, the cost of materials transferred into the Rolling Department from the Casting Department of Jabari Steel Company is $$6,000,000.$ The conversion cost for the period in the Rolling Department is $$925,200($$$725,200$ factory overhead applied and $$200,000$ direct labor$).$ The total cost transferred to Finished Goods for the period was $$6,775,760.$ The Rolling Department had a beginning inventory of $$318,560.$

a$.$ Journalize for the Rolling Department $(1)$ the cost of transferred$-$in materials, $(2)$ the conversion costs, and $(3)$ the costs transferred out to Finished Goods.

b$.$ Determine the balance of Work in Process$-$Rolling at the end of the period.

BE $17-8$ Analyzing Changes in Unit Costs

Obj. $4$

The costs of materials consumed in producing good units in the Forming Department of Thomas Company were $$76,000$ and $$77,350$ for September and October, respectively. The number of equivalent units produced in September and October was $800$ tons and $850$ tons, respectively. Evaluate the change in the cost of materials between the two months.