Cost of Production and Journal Entries AcouBIade Castings Inc. oasts blades for turbine engines. Within the Casting Departmenty alloy is first melted in a crucibley then poured into molds to produce the castings. On May 1, there were 900 pounds of alloy in process which were 70% Complete as to Conversion. The Work in Process balance for these 900 pounds was $141,930. determined as follows: Direct materials (900 x $150) $135,000 Conversion (900 x 70% >4 $11) 6,930 $141,930 During May, the Casting Department was charged $1,241y000 for 83500 pounds of alloy and $33,960 for EierCt labor. Factory overhead is applied to the department at a rate of150fu of direct labor. The department transferred out 0,700 pounds of finished castings to the Machining Department. The May 31 inventory in process was 60% complete as to conversion. a1. Prepare the May Journal entry for the Casting Department for the materials charged to production. If an amount box does not require an entry, leave it blank. V DD oo .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. 4 4 mo mo a3. Prepare the May journal entry for the Casting Department for the completed production transferred to the Machining Department. If an amount box does not require an entry, leave it blank. 1 DE DE h. Determine the Work in ProcessCasting Department May 31 balance. $l:l E. 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 55:] Change in conversion V :i