Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $515,600. The conversion cost for the period in the Rolling Department is $114,300 ($65,600 factory overhead applled and $48,700 direct labor). The total cost transferred to Finished Goods for the period was $530,000. The Rolling Department had a beginning inventory of $25,000 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