Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Keystone Steel Company is $531,500 from the Casting Department. The conversion cost for the period in the Rolling Department is $112,500 (567,300 factory overhead applied and $45,200 direct labor). The total cost transferred to finished Goods for the period was $653,800. The Rolling Department had a beginning inventory of $27,800. al. Journalize the cost of transferred in materials. Work In Process-Rolling Work In Process-Casting a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank Factory Overhead-Rolling Work in Process-Rolling Wages Payable a3. Journalize the costs transferred out to Finisher Goods. Finished Goods Work in Process-Rolling b. Determine the balance of Work in Process-Rolling at the end of the period