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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. Required: a. On March 31, prepare the following journal entries for the Papermaking Deipartment: 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 Process-Papermaking Department March 31 balance. -Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Round your cost per unit answers to the nearest cent and final answers to the nearest dollar amount. 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 the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Round your cost per unit answers to the nearest cent and final answers to the nearest dollar amount. b. Determine the Work in Process-Papermaking Department March 31 balance. aced into a vess
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