Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $539,600. The conversion cost for the period in the Rolling Department is $109,200 ($68,900 factory overhead applied and $40,300 direct labor). The total cost transferred to Finished Goods for the period was $600,000. The Rolling Department had a beginning inventory of $21,400. a1.  Journalize the cost of transferred-in materials. If an amount box does not require an entry, leave it blank.   Work in Process-Rolling  fill in the blank e25773054f92f98_2 fill in the blank e25773054f92f98_3   Work in Process-Casting  fill in the blank e25773054f92f98_5 fill in the blank e25773054f92f98_6 a2.  Journalize the conversion costs. If an amount box does not require an entry, leave it blank.   Work in Process-Casting  fill in the blank f67c1509605d043_2 fill in the blank f67c1509605d043_3   Factory Overhead-Rolling  fill in the blank f67c1509605d043_5 fill in the blank f67c1509605d043_6     fill in the blank f67c1509605d043_8 fill in the blank f67c1509605d043_9 a3.  Journalize the costs transferred out to Finished Goods. If an amount box does not require an entry, leave it blank.     fill in the blank 7fa3d2f6ef84010_2 fill in the blank 7fa3d2f6ef84010_3     fill in the blank 7fa3d2f6ef84010_5 fill in the blank 7fa3d2f6ef84010_6 b.  Determine the balance of Work in Process—Rolling at the end of the period. $fill in the blank 941d93fe204cfe2_1

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 7BE: In October, the cost of materials transferred into the Rolling Department from the Casting...
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Process Cost Journal Entries

In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $539,600. The conversion cost for the period in the Rolling Department is $109,200 ($68,900 factory overhead applied and $40,300 direct labor). The total cost transferred to Finished Goods for the period was $600,000. The Rolling Department had a beginning inventory of $21,400.

a1.  Journalize the cost of transferred-in materials. If an amount box does not require an entry, leave it blank.

  Work in Process-Rolling  fill in the blank e25773054f92f98_2 fill in the blank e25773054f92f98_3
  Work in Process-Casting  fill in the blank e25773054f92f98_5 fill in the blank e25773054f92f98_6

a2.  Journalize the conversion costs. If an amount box does not require an entry, leave it blank.

  Work in Process-Casting  fill in the blank f67c1509605d043_2 fill in the blank f67c1509605d043_3
  Factory Overhead-Rolling  fill in the blank f67c1509605d043_5 fill in the blank f67c1509605d043_6
    fill in the blank f67c1509605d043_8 fill in the blank f67c1509605d043_9

a3.  Journalize the costs transferred out to Finished Goods. If an amount box does not require an entry, leave it blank.

    fill in the blank 7fa3d2f6ef84010_2 fill in the blank 7fa3d2f6ef84010_3
    fill in the blank 7fa3d2f6ef84010_5 fill in the blank 7fa3d2f6ef84010_6

b.  Determine the balance of Work in Process—Rolling at the end of the period.
$fill in the blank 941d93fe204cfe2_1

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