Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000 from the Casting Department. The conversion cost for the period in the Rolling Department is $81,200 ($54,700 factory overhead applied and $26,500 direct labor). The total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a beginning inventory of $25,000. al. Journalize the cost of transferred-in materials. Work in ProcessRolling Work in Process-Casting Feedback a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. Work in Process-Rolling Factory Overhead-Rolling Wages Payable Feedback a3. Journalize the costs transferred out to Finished Goods. Finished Goods Work in Process-Rolling Feedback b. Determine the balance of Work in Process-Rolling at the end of the period