Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Keystone Steel Company is $571,400 from the Casting Department. The conversion cost for the period in the Rolling Department is $107,800 ($63,900 factory overhead applied and $43,900 direct labor). The total cost transferred to Finished Goods for the period was $666,200. The Rolling Department had a beginning inventory of $27,100. 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. Determine the balance of Work in Process- Rolling at the end of the period. T UUHUN LUCUSLY Department. The conversion cost for the period in the Rolling Department is $107,800 ($63,900 factory overhead applied and $43,900 direct labor). The total cost transferred to Finished Goods for the period was $666,200. The Rolling Department had beginning inventory of $27,100. a1. Journalize the cost of transferred-in materials. Accounts Payable L 7 Cash sion costs. If an amount box does not require an entry, leave it blank. Factory Overhead-Casting Factory Overhead-Rolling Finished Goods 1 Materials Work in Process-Casting Jansferred out to Finished Goods. Work in Process-Rolling b. Determine the balance of Work in Process-Rolling at the end of the period