Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac

تمرين 19

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:

a. Prepare the following March journal entries for the Papermaking Department:
1. The materials charged to production.
2. The conversion costs charged to production.
3 The completed production transferred to the Converting Department.
b. Determine the Work in Process-Papermaking Department March 31 balance.