Cost of Production and Journal Entries AccuBlade Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On May 1, there were 600 pounds of alloy in process, which were 40% complete as to conversion. The Work in Process balance for these 600 pounds was $73,440, determined as follows: Direct materials (600 x $120) $72,000 Conversion (600 x 40% x $6) 1,440 $73,440 During May, the Casting Department was charged $649,600 for 5,600 pounds of alloy and $11,360 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 5,800 pounds of finished castings to the Machining Department. The May 31 inventory in process was 30% complete as to conversion. a1. Prepare the May journal entry for the Casting Department for the materials charged to production. v D D 32. Prepare the May journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. EDD m a3. Prepare the May journal entry for the Casting Department for the completed production transferred to the Machining Department. b. Determine the Work in ProcessCasting Department May 31 balance. 34:] c. Compute the change in the costs per equivalent unit for direct materials and conversion from the previous month (April). Cost per Equivalent Unit Change in materials V $:] Change in conversion V C]