The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000from 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). Tht total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a Beginning Inventory of $25,000 Journalize the cost of transferred in materials.

The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000from 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). Tht total cost transferred to Finished Goods for the period was $553,200. The Rolling Department had a Beginning Inventory of $25,000 Journalize the cost of transferred in materials.

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Description: The cost of materials transferred into the Rolling Department of Keystone Steel Company is $510,000from the Casting Department. Theconversion cost for the period in the Rolling Department is $81,200 ($54,700 factory overhead applied and $26,500 dire

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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