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 ProcessPapermaking Department							Account No.
Date		Item	Debit		Credit		Balance
							Debit		Credit
Mar.	1	Bal., 5,900 units, 30% completed					16,520
	31	Direct materials, 31,500 units	63,000				79,520
	31	Direct labor	19,760				99,280
	31	Factory overhead	11,119				110,399
	31	Goods transferred, 35,200 units			?		?
	31	Bal., 2,200 units, 40% completed					?

a1. Prepare the March journal entry for the Papermaking Department for the materials charged to production.

	Work in Process-Papermaking Department	fill in the blank 7a00f3fc9fabfcf_2
	Materials-Pulp		fill in the blank 7a00f3fc9fabfcf_4

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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	fill in the blank 8e2f4afeafdcff6_2	fill in the blank 8e2f4afeafdcff6_3
	Wages Payable	fill in the blank 8e2f4afeafdcff6_5	fill in the blank 8e2f4afeafdcff6_6
	Factory Overhead-Papermaking Department	fill in the blank 8e2f4afeafdcff6_8	fill in the blank 8e2f4afeafdcff6_9

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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	fill in the blank ce92f104a06df8d_2
	Work in Process-Papermaking Department		fill in the blank ce92f104a06df8d_4

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b. Determine the Work in ProcessPapermaking Department March 31 balance. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar. $fill in the blank bfe5e3fa8fbbfcc_1