Determine the work in process-papermaking department


Assignment:

Instructions

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


Balance
Date Item Debit Credit Debit Credit
Mar. 1 Bal., 2,600 units, 35% completed

9,154

31 Direct materials, 105,000 units 339,200
348,354

31 Direct labor 40,200
388,554

31 Factory overhead 44,872
433,426

31 Goods transferred, 103,900 units
? ?

31 Bal., 3,700 units, 80% completed

?

Required:

A. On March 31, prepare the following journal entries for the Papermaking Department:*

1 .The completed production transferred to the Converting Department.

B. Determine the Work in Process-Papermaking Department March 31 balance.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: Determine the work in process-papermaking department
Reference No:- TGS02075139

Expected delivery within 24 Hours