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Lemonda Corporallon uses o JOO order cost system. On Apr 1, the accounts hed balances es shown In the T-eccounts below: The followlng transactons
Lemonda Corporallon uses o JOO order cost system. On Apr" 1, the accounts hed balances es shown In the T-eccounts below: The followlng transactons occurred durlng Apr": a. Purchased materlels on account a cost of S136,OOO_ b. Requlsltloned materlals ata cost of $122,000, ofwhlch S28,OOO was for general factory use. Recorded unpald factory labour of S155.OOO, of whlch $24,000 was Indlrect d. Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation S 44,eee 24, eee e. Applled overhead a rete egual to 135 percent of dlrect labor cost f. Completed Joos costlng $375,000 g. Sold Jobs costlng S402,OOCL h. Recorded sales revenue (on account) of $500,000. Requlred: 1. & 2. Post the Aprll transactlons to the T-occounts end compute the balance In the accounts the end of Aprll. Compute over- or underapplled manufacturlng overheafl 3.b. If the balance In the Manufacturlng Overhead account Is closed dlrectly to Cost of Goods Sold. wlll Cost of Goods Sold Increase or decrease? 4. Prepare Lamonde's cost of goods manufactured report for Aprll_ S. Prepare Lamonte's Aprll Income statement. Include any adjustment to Cost of Goods Sold needed to dlspose of over- or underapplled manufacturlng overhead. Complete this question by entering your answers in the tabs below. 1 and 2 Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. Note: Post each transaction (d) cost separately. Beginning Salance Ending Balance 25.000 Beginning Balance Ending Balance ooo
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