Franklin 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 January.
| Account Work in Process-Papermaking Department |
Account No. |
| Date |
Item |
Debit |
Credit |
Balance |
| Debit |
Credit |
| Jan. |
1 |
Bal., 6,800 units, 80% completed |
|
|
4,352 |
|
|
|
31 |
Direct materials, 36,300 units |
58,080 |
|
|
62,432 |
|
|
|
31 |
Direct labor |
16,760 |
|
|
79,192 |
|
|
|
31 |
Factory overhead |
9,420 |
|
|
88,612 |
|
|
|
31 |
Goods transferred, 40,500 units |
|
|
? |
|
? |
|
|
|
31 |
Bal., 2,600 units, 90% completed |
|
|
|
? |
|
|