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Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Com papermaking production. The following information concerns production in the Papermaking
Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Com 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. 1 Bal., 9,200 units, 60% completed 11,776 31 Direct materials, 49,100 units 78,560 90,336 31 Direct labor 23,180 113,516 31 Factory overhead 13,031 126,547 31 Goods transferred, 54,800 units ? ? 31 Bal., 3,500 units, 70% completed ? al. Prepare the March journal entry for the Papermaking Department for the materials charged to production. Work in Process-Papermaking Department 78,560 Materials-Pulp 78,560 Ches My Wor a1 Remember there are three different types of inventory, materials, work in process, and finished goods a2. Prepare the March journal entry for the Papermaking Department for the conversion costs charged to production. If an am Linnanstant 13. Prepare the March journal entry for the Papermaking Department for the completed production transferred to the Converting Department. If required, round y tecimal places and your final answer to the nearest dollar. Work in Process-Converting Department 108,504 Work in Process-Papermaking Department 108,504 Feedback Check My Work a3. Remember that each department has a work in process account. Are these units 100% complete and ready to be sold or are they still in process? . Determine the Work in Process-Papermaking Department March 31 balance. If required, round your interim calculations to two decimal places and your final S6,268.50 Feedback Check My Work erials and conversion? How many equivalent units does the ending v b. How many units are still in process at the end of the period? How complete are these units in terms of Feedback Check My Work Partially correct more Check My Work uses remaining
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