Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Keystone Steel Company is $579,600 from the Casting Department. The conversion cost for the period in the Rolling Department is $109,300 ($65,900 factory overhead applied and $43,400 direct labor). The total cost transferred to Finished Goods for the period was $660,300. The Rolling Department had a beginning inventory of $27,700. al. Joumalize the cost of transferred-in materials. a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. a3. Journalize the costs transferred out to Finished Goods. b. Determine the balance of Work in Process-Rolling at the end of the period