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 Jan 3,968 52.960 56,928 72,208 15,280 1 Bal., 6,200 units, 80% completed 31 Direct materials, 33,100 units 31 Direct labor 31 Factory overhead 31 Goods transferred, 36,900 units , 31 Bal., 2.400 units, 90% completed 8,590 80,798 ? 7 ? al. Prepare the March journal entry for the Papermaking Department for the materials charged to production. Work in Process-Paper making Department 52,960 Work in Process-Converting Department 52.960 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 23,870 Wages Payable 15,280 Factory Overhead 8,590 23. 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 Work in Process-Papermaking 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