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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

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

Balance
Date Item Debit Credit Debit Credit
Mar. 1 Bal., 2,000 units, 35% completed 9,154
31 Direct materials, 106,000 units 339,200 348,354
31 Direct labor 40,200 388,554
31 Factory overhead 44,872 433,426
31 Goods transferred, 103,200 units ? ?
31 Bal., 4,800 units, 80% completed ?
Required:
A. On March 31, prepare the following journal entries for the Papermaking Department:*
1. The materials charged to production.
2. The conversion costs charged to production.
3. The completed production transferred to the Converting Department.
B. Determine the Work in ProcessPapermaking Department March 31 balance.
* Refer to the Chart of Accounts for exact wording of account titles. Round your cost per unit answers to the nearest cent and final answers to the nearest dollar amount.

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