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., 3,000 units, 35% completed			9,130
	31	Direct materials, 107,000 units	369,150		378,280
	31	Direct labor	40,380		418,660
	31	Factory overhead	45,916		464,576
	31	Goods transferred, 104,600 units		?	?
	31	Bal., 5,400 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.

X

Journal

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

*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.

PAGE 10

JOURNAL

ACCOUNTING EQUATION

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1
2
3
4
5
6
7

X

Final Question