rolling department of keystone steel company

Calculator BShow Me How eBook Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Keystone Steel Company is $557,300 from the Casting Department. The conversion cost for the period in the Rolling Department is $115,000 ($66,700 factry overhead applied and $48,300 direct labor). The total cost transferred to Finished Goods for the period was $661,700. The Rolling Department had a beginning imventory of $29,900 a1. Journalize the cost of transferred-in materials Work in Process-Rolling Work in Process-Casting Feeteck Check My Wk Remember there are three classifications of inventory, raw materials, work in process, and finished goods 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 feeek heck My a3. Journalize the costs transferred out to Finished Goods. Finished Goods Work in Process-Rolling Feedback Check My Work Now that the units are completed how will that affect the asset accounts of the business? Remember th finished goods. b. Determine the balance of Work in Process-Rolling at the end of the period. Feedback Y Check My Work Recall that the work in process account represents all the costs associated with units that have been s Feedback