Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $506,200. The conversion cost for the period in the Rolling Department is $114,200 ($65,300 factory overhead applied and $48,900 direct labor). The total cost transferred to Finished Goods for the period was $520,000. The Rolling Department had a beginning inventory of $24,300.

Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $506,200. The conversion cost for the period in the Rolling Department is $114,200 ($65,300 factory overhead applied and $48,900 direct labor). The total cost transferred to Finished Goods for the period was $520,000. The Rolling Department had a beginning inventory of $24,300.

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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