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Cost of Production and Journal Entries Lighthouse Paper Company manufactures newsprint. The product manufactured in two departments, Paper making and Converting Pulo in first placed into avesse at the beginning of papermaking production. The following information concerns production in the Paperaking Department for March Account Work in Process - Papermaking Department Account No. Balance Date Item Debit Credit Debit Credit 1 Bab, 5,300,60% completed 5,936 31 Direct materials, 26,300 units 39,630 45,556 31 Direct labor 11.450 57,006 31 Factory overhead 442 63,448 31 Goods transferred, 31,600 units 31 , 2,000 units, 70% completed 2 al. Prepare the March journal entry for the Papermoking Department for the materials charged to production Work in Process Paper making Department 39.4620 Materials Pro 19,620 Check My W a Remember there are three different types of intory, maar work in process and she goods dantys of inventory work process and 2. 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 bank Work in Process Papermaking Department 17,892 Wages Payable 11450 Factory Overhead 6442 Fundack Che World 2 What types of costs are ncluded in conversion costs? By adding these conversion costs are the units complete and ready for me? 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 Work in Process Converting Department - Work in Process Papermaking Department Check a3 Remember that each partner has a work in process account Are these units 100% complete and ready to be sold or are they still in proces? . Modecim w your final answer to the nearest dollar Work in Process Converting Department Work in Process Papermaking Department Feedback Check My Work 3. Remember that each department has a work in process account Nuthese unts 100complete and ready to be sold or are they stol in process? b. Determine the Work in Process --Papermaking Department March 31 balance. It required, round your interim calculations to two decimal places and your final answer to the nearest dollar Feedback Ched Work b How many units are in process at me end of the period? How complete are these untsin temor and conversion? How many events does the ending work in proces contain? Feedback Ched Work Partially correct