Cost of Production and Journal Entries Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Converting. Pulp is first placed into a vessel at the beginning of papermaking production. The following information concerns production in the Papermaking Department for March. Account Work in Process-Papermaking Department Account No. Balance Date Item Debit Credit Debit Credit Jan. 4,392 1 Bal., 6,100 units, 80% completed 31 Direct materials, 32,500 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 36,300 units 31 Bal., 2,300 units, 90% completed 58,500 17,150 9,642 62,892 80,042 89,684 ? ? ? al. Prepare the March journal entry for the Papermaking Department for the materials charged to production. Work in Process-Papermaking Department 58,500 Materials-Pulp 58,500 Feedback Check My Work al. Remember there are three different types of inventory, materials, work in process, and finished goods. a2. Prepare the March journal entry for the Papermaking Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank. Work in Process-Papermaking Department 26,792 Wages Payable 17,150 Factory Overhead 9,642 Feedback Check My Work a2. What types of costs are included in conversion costs? By adding these conversion costs are the units complete and ready for transfer? a3. Prepare the March journal entry for the Papermaking Department for the completed production transferred to the Converting Department. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar. Work in Process-Converting Department Work in Process-Papermaking Department Feedback Check My Work a3. Remember that each department has a work in process account. Are these units 100% complete and ready to be sold or are they still in process? b. Determine the Work in Process-Papermaking Department March 31 balance. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar