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 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 Balance Debit Credit Debit Credit Jan. 1 Bal., 7,400 units, 20% completed 21,312 31 Direct materials, 39,500 units 71,100 92,412 31 Direct labor 22.250 114,662 31 Factory overhead 12,518 127,180 31 Goods transferred, 44,100 units 7 31 Bal., 2,800 units, 30% completed al. Prepare the March Journal entry for the Pangmaking Department for the materials charged to production ? 12. Prepare the March journal entry for the papermaking Department for the conversion costs charged to production. It an amount box does not require an entry. leave it blank a3. Prepare the March Journal entry for the Papermaling 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 doltar b. Determine the Work in Process --Papermoking Department March 31 balance required, round your interim calculations to two decimal places and your final answer to the nearest dollar