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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 Process-Papermaking Department Account No. Balance Date Item Debit Credit Debit Credit Jan. 1 Bal, 9.000 units, 80% completed 6,480 31 Direct materials, 48,000 units 86,400 92,880 31 Direct labor 25,320 118.200 31 Factory overhead 14,248 132,448 31 Goods transferred, 53.600 units 31 Bal., 3.400 units, 90% completed a1. Prepare the March journal entry for the Papermaking Department for the materials charged to production. 32. 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. 23. Prepare the March journal entry for the Paparmaking 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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