State method to be used FIFO.

Parsley Metal Company arsley Metal Company casts blades for the turbine engine. Within the casting in a crucible, then poured into molds to produce the castings. On October 1, the process which were 40% complete as to conversion. The work in process balan determined as follows: Direct Materials (750 x $26 Conversion (750 x 40% x$44) thin the Casting Department, alloy is first melted S. on October 1, there were 750 pounds of alloy in on. The work in process balance for these 750 pounds was $32,700, 19,500 13,200 $32,700 During October, the Casting Department was charged $249.200 for 8,900 pounds of alloy and $162,540 for direct law Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 9,230 pounds of finished castings to the Machining Department. The October 31 inventory in process was 20% complete as to conversion. a. Prepare the following October journal entries for the Casting Department. 1. The materials charged to production 2. The conversion costs charged to production. 3. The completed production transferred to the Machining Department. b. Determine the Work-in-Process-Casting Department October 31 balance