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., 5,300 units, 70% completed 4,770 31 Direct materials, 28,300 units 42,450 47,220 31 Direct labor 13,210 60,430 31 Factory overhead 7,433 67,863 31 Goods transferred, 31,600 units ? 31 Bal., 2,000 units, 80% completed ? al. Prepare the March journal entry for the Papermaking Department for the materials charged to production. 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 required, round your interim calculations to two decimal places and your final answer to the nearest dollar. 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