Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Blackrock Steel Company is $579,800 from the Casting Department. The conversion cost for the period in the Rolling Department is $114,900 ( $69,200 factory overhead applied and $45,700 direct labor). The total cost transferred to Finished Goods for the period was $634,400. The Rolling Department had a beginning inventory of $27,900. a1. Journalize the cost of transferred-in materials. If an amount box does not require an entry, leave it blank. 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