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.

Name: The cost of materials transferred into the Rolling Department of Keys
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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

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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QUESTION 9 10 p 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). The 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 out to Finished Goods. Work in Process - Rolling 553,200 Finished Goods 553,200 Finished Goods 553,200 Work in Process - Rolling 553,200 Finished Goods 510,000 Work in Process - Rolling 510,000 Work in Process Rolling 510,000 Finished Goods 510,000
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