During May, the Casting Department was charged $350,000 for 2,500 pounds of alloy and $19,840 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 2,530 pounds of finished castings to the Machining Department. The May 31 Inventory in process was 44% complete as to conversion. 1. 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. Work in Process Casting Department 350.000 Materials Alloy 350,000 Feedbad Check My Work a1. Remember there are three different areas of inventory: Materials. Work in Process and Finished Goods. a2. 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 Work in Process Casting Department Wages Payable 19.840 Factory Overhead Feedback Check My Work 2. Remember that a Work in Process account accumulates all costs (Direct Materials, Drect Labor Manufacturing Overhead) that are added to the units in a given department. What types of costs are considered conversion costs? 3. Prepare the May Journal entry for the Casting Department for the completed production transferred to the Machining Department. If an PS Next