eBook Show Me How Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Blackrock Steel Company is $625,500 from the Casting Department The conversion cost for the period in the Rolling Department is $157,680 ($94,600 factory overhead applied and $63,080 direct labor). The total cost transferred to Finished Goods for the period was $724,000. The Rolling Department had a beginning Inventory of $38,020 al. Journalize the cost of transferred-in materials. If an amount box does not require an entry, leave it blank. Work in Process-Rolling Work in Process-Casting Feedback Check My Work Remember there are three classifications of inventory, raw materials, work in process, and finished goods. Costs accumulate and are transferred from one department to the next. a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. Work in Process-Rolling Factory Overhead-Rolling 99 Wages Payable Feedback Check My Work Previous Next > All work saved eBook Show Me How a3. Joumalize the costs transferred out to Finished Goods. If an amount box does not require an entry, leave it blank. Finished Goods Work in Process Rolling Feedback Check My Work Now that the units are completed how will that affect the asset accounts of the business? Remember there are three types of inventory, raw materials, work in process, and finished goods. b. Determine the balance of Work in Process --Rolling at the end of the period. Feedback Check My Work Recall that the work in process account represents all the costs associated with units that have been started during the period but have not been completed and transferred out. Feedback Check My Work Previous Next > Check My Work All work saved. Email Instructor Save and Exit Submit Assignment for Gradint