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., 5,500 units, 70% completed 6,270 31 Direct materials, 29,300 units 55,670 61,940 31 Direct labor 15,630 77,570 31 Factory overhead 8,794 86,364 ? 31 Goods transferred, 32,700 units 31 Bal., 2,100 units, 80% completed al. Prepare the March journal entry for the Papermaking Department for the materials charged to production. If an amount box does not require an entry, leave it blank. 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. a3. Prepare the March journal entry for the Papermaking Department for the completed production transferred to the Converting Department. If an amount box does not require an entry, leave it blank. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar. 88 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