Process Cost Journal Entries In October, the cost of materials transferred into the Rolling Department from the Casting Department of Kraus Steel Company is $597,600. The conversion cost for the period in the Rolling Department is $108,800 ($64,400 factory overhead applied and $44,400 direct labor). The total cost transferred to Finished Goods for the period was $560,000. The Rolling Department had a beginning inventory of $22,900. a1. Journalize the cost of transferred-in materials. If an amount box does not require an entry, leave it blank.