This Website Has Been Moved to a New Link


Franklin Paper

Price: $2.50

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.

Debit Credit Debit
Bal., 6,500 units, 35% completed      29,250
Direct materials, 102,000 units  397,800    427,050
Direct labor  107,600    534,650
Factory overhead  81,049    615,699
Goods transferred, 101,400 units      
Bal., 7,100 units, 80% completed  

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 31 balance.

No comments:

Post a Comment