In October, the cost of materials transferred into the Rolling Department from the Casting Department of Jabari Steel Company is $543,500. The conversion cost for the period in the Rolling Department is $113,300 ($63,900 factory overhead applied and $49,400 direct labor). The total cost transferred to Finished Goods for the period was $580,000. The Rolling Department had a beginning inventory of $28,800.
al. Journalize the cost of transferred-in materials for the Rolling Department. If an amount box does not require an entry, leave it blank.
Work in Process-Rolling
Work in Process-Casting
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a2. Journalize the conversion costs for the Rolling Department. If an amount box does not require an entry, leave it blank.
Work in Process-Rolling
Factory Overhead-Rolling
Wages Payable
Feedback
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a3. Journalize the costs transferred out to Finished Goods for the Rolling Department. If an amount box does not require an entry, leave it blank.
Finished Goods
Work in Process-Rolling
a3. Journalize the costs transferred out to Finished Goods for the Rolling Department. If an amount box does not require an entry, leave it blank.
Finished Goods
Work in Process-Rolling
Feedback
Check My Work
b. Determine the balance of Work in Process-Rolling at the end of the period.