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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 Account No. Balance Date Item Debit Credit Debit Credit Mar. 21,600 1 Bal., 7,500 units, 20% completed 31 Direct materials, 40,000 units 72,000 93,600 31 Direct labor 22.550 116,150 12,682 128,832 31 Factory overhead 31 Goods transferred, 44,700 units 31 Bal., 2,800 units, 30% 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. 101 110 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
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