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.
a. Journalize (1) the cost of transferred- in materials, (2) conversion costs, and (3) the costs transferred out to Finished Goods.
b. Determine the balance of Work in Process—Rolling at the end of the period.

  • CreatedJune 27, 2014
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