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. Date Item Debit Credit Balance Debit Credit 9,139 Mar. 1 Bal., 2,600 units, 35% completed 31 Direct materials, 105,000 units 31 Direct labor 330,750 40,560 54,795 339,089 380,449 435,244 31 Factory overhead 31 Goods transferred, 103,900 units 31 Bal., 3,700 units, 80% completed 2 ? 2 al. Prepare the March Journal entry for the Papermeking Department for the materials charged to production. If an amount box does not require an entry, leave it blank Work in Process-Papermaking Department 330,750 Materials-Pulp 330,750 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 14,985 X Feedback Check My Wor b. How many units are still in process at the end of the period? How complete are these units in terms of materials and conversion? How many equivalent units does the ending work in process contain? Feedback Check My Work Partially correct