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 Mar. 1 Bal., 8,000 units, 10% completed 18,720 31 Direct materials, 42,700 units 55,510 74,230 31 Direct labor 18,240 92,470 31 Factory overhead 10,260 102,730 ? ? 31 Goods transferred, 47,700 units 31 Bal., 3,000 units, 20% completed ? al. Prepare the March journal entry for the Papermaking Department for the materials charged to production. Work in Process-Papermaking Department Materials-Pulp 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 Wages Payable Factory Overhead-Papermaking Department 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-Papermaking Department Work in Process-Converting Department 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