Process Cost Journal Entries

The cost of materials transferred into the Rolling Department of Keystone Steel Company is $577,600 from the Casting Department. The conversion cost for the period in the Rolling Department is $112,400 ($63,900 factory overhead applied and $48,500 direct labor). The total cost transferred to Finished Goods for the period was $604,600. The Rolling Department had a beginning inventory of $25,900.

a1.Journalize 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.Determin