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I am having a hard time getting this question right. Can you help me out? (a) Purchased materials on account at a cost of $232,970.
I am having a hard time getting this question right. Can you help me out?
(a) Purchased materials on account at a cost of $232,970. (b)Requisitioned materials at a cost of $110,900, of which $15,000 was for general factory use. ()Recorded factory labor of $223,900, of which $43,075 was indirect. (d)Incurred other costs Selling expense Factory utilities Administrative $34,400 ed 23,800 51,350 expenses Factory rent Factory depreciation 11,800 19,200 tes (e) Applied overhead at a rate equal to 131 percent of direct labor cost. Completed jobs costing $262,350 (g) Sold jobs costing $323,270 h) Recorded sales revenue of $504,000 Required: 1.& 2 Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April (Round your answers to 2 decimal places.) 3-a. Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) 3-b. If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will Cost of Goods Sold increase or decrease? 4. Prepare Lamonda's cost of goods manufactured report for April (Round your answers to 2 decimal places.) 5. Prepare Lamonda's April income statement. Include any adjustment to Cost of Goods Sold needed to dispose of over- or underapplied manufacturing overhead. (Round your answers to 2 decimal places.) 1 of 3 Next Step by Step Solution
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