Process Costing Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Jabari Steel Company is $564,000. The conversion cost for the period in the Rolling Department is $110,500 ($61,000 factory overhead applied and $49,500 direct labor). The total cost transferred to Finished Goods for the period was $600,000. The Rolling Department had a beginning inventory of $20,600. a1. Journalize the cost of transferred-in materials for the Rolling Department. If an amount box does not require an entry, leave it blank. a2. Journalize the conversion costs for the Rolling Department. If an amount box does not require an entry, leave it blank.. ED 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. b. Determine the balance of Work in Process-Rolling at the end of the period.

Process Costing Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Jabari Steel Company is $564,000. The conversion cost for the period in the Rolling Department is $110,500 ($61,000 factory overhead applied and $49,500 direct labor). The total cost transferred to Finished Goods for the period was $600,000. The Rolling Department had a beginning inventory of $20,600. a1. Journalize the cost of transferred-in materials for the Rolling Department. If an amount box does not require an entry, leave it blank. a2. Journalize the conversion costs for the Rolling Department. If an amount box does not require an entry, leave it blank.. ED 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. b. Determine the balance of Work in Process-Rolling at the end of the period.

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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In July, the cost of materials transferred into the Rolling Department from the Casting Department of Oak Ridge Steel Company is $544,900. The conversion cost for the period in the Rolling Department is $116,900 ($68,900 factory overhead applied and $48,000 direct labor). The total cost transferred to Finished Goods for the period was $590,000. The Rolling Department had a beginning inventory of $26,500. a1. Journalize the cost of transferred-in materials. fill in the blank 16e838059fb9033_2 fill in the blank 16e838059fb9033_4 a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. fill in the blank a2acba089f98fcb_2 fill in the blank a2acba089f98fcb_3 fill in the blank a2acba089f98fcb_5 fill in the blank a2acba089f98fcb_6 fill in the blank a2acba089f98fcb_8 fill in the blank a2acba089f98fcb_9 a3. Journalize the costs transferred out to Finished Goods. fill in the…
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