Franklin paper company manufactures newsprint the product

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Reference no: EM13571224

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
Date		Item	Debit	Credit	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			?

Reference no: EM13571224

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