Answer Happy

Lighthouse Paper Company manufactures newsprint. The product ismanufactured in two departments, Papermaking and Converting. Pulpis first placed into a vessel at the beginning of papermakingproduction. The following information concerns production in thePapermaking Department for March: ACCOUNT Work InProcess-Papermaking Department ACCOUNT NO. Balance Date Item DebitCredit Debit Credit Mar. 1 Bal., 3,000 units, 35% completed 9,13031 Direct materials, 107,000 units 369,150 378,280 31 Direct labor40,380 418,660 31 Factory overhead 45,916 464,576 31 Goodstransferred, 104,600 units ? ? 31 Bal., 5,400 units, 80% completed? Required: a. On March 31, prepare the following journal entriesfor the Papermaking Department:* 1. The materials charged toproduction 2. The conversion costs charged to production 3. Thecompleted production transferred to the Converting Department b.Determine the Work in Process—Papermaking Department March 31balance. *Refer to the chart of accounts for the exact wording ofthe account titles. CNOW journals do not use lines for journalexplanations. Every line on a journal page is used for debit orcredit entries. CNOW journals will automatically indent a creditentry when a credit amount is entered. Round your cost per unitanswers to the nearest cent and final answers to the nearest dollaramount.