managerial accounting 409003
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 | |||||
| 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 | ? | |||||||
I am looking for the $ amount of work in process that is transferred to converting department
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