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Cost of Production and Journal Entries

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 ProcessPapermaking Department							Account No.
Date		Item	Debit		Credit		Balance
							Debit		Credit
Mar.	1	Bal., 6,300 units, 70% completed					4,914
	31	Direct materials, 33,600 units	43,680				48,594
	31	Direct labor	13,440				62,034
	31	Factory overhead	7,566				69,600
	31	Goods transferred, 37,500 units			?		?
	31	Bal., 2,400 units, 80% completed					?

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a1. Prepare the March journal entry for the Papermaking Department for the materials charged to production. If an amount box does not require an entry, leave it blank.

blank	Factory Overhead-Papermaking DepartmentFinished GoodsMaterials-PulpWork in Process-Converting DepartmentWork in Process-Papermaking Department	- Select -	- Select -
	Factory Overhead-Papermaking DepartmentFinished GoodsMaterials-PulpWork in Process-Converting DepartmentWork in Process-Papermaking Department	- Select -	- Select -

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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.

blank	Factory OverheadMaterials-PulpWages ExpenseWork in Process-Converting DepartmentWork in Process-Papermaking Department	- Select -	- Select -
	CashCost of Goods SoldWages PayableWork in Process-Converting DepartmentWork in Process-Papermaking Department	- Select -	- Select -
	Accounts PayableCashFactory OverheadWork in Process-Converting DepartmentWork in Process-Papermaking Department	- Select -	- Select -

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a3. Prepare the March journal entry for the Papermaking Department for the completed production transferred to the Converting Department. If an amount box does not require an entry, leave it blank. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar.

blank	CashFinished GoodsMaterials-PulpWork in Process-Converting DepartmentWork in Process-Papermaking Department	- Select -	- Select -
	CashFinished GoodsMaterials-PulpWork in Process-Converting DepartmentWork in Process-Papermaking Department	- Select -	- Select -

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b. Determine the Work in ProcessPapermaking Department March 31 balance. If required, round your interim calculations to two decimal places and your final answer to the nearest dollar. $fill in the blank db5312f50034fe3_1