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Journalize the costs transferred out to finished goods

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Reference no: EM132772630

The cost of materials transferred into the Rolling Department of Keystone Steel Company is $586,900 from the Casting Department. The conversion cost for the period in the Rolling Department is $113,100 ($67,800 factory overhead applied and $45,300 direct labor). The total cost transferred to Finished Goods for the period was $632,500. The Rolling Department had a beginning inventory of $22,600.

Problem 1: Journalize the Cost of transferred-in materials.

Problem 2: Journalize the conversion costs. If an amount box does not require an entry, leave it blank.

Problem 3: Journalize the costs transferred out to Finished Goods.

Reference no: EM132772630

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