Franklin Paper Company manufactures newsprint. The product is manufactured in two departments,...

Question

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.

a. Prepare the following January 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 January 31balance.

David · Accepted Answer

a. Prepare january journal entry for papermaking dept for the completed production transferred to 
the converting dept.
work in progress- converting dept Dr 1124 
work in progress- papermaking dept Cr 1124
1b. Determine the work in process
Clsoing WIP : 
Material 600 1.2731 $764 
Labour 600 0.

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...

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