Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below. The following transactions occurred during April: (a) Purchased materials on account at a cost of $231770. (b) Requisitioned materials at a cost of $112,200, of which $16,300 was for general factory use. (c) Recorded factory labor of $224,700, of which $43,475 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34, 4ee 23,500 51,650 11,300 19,400 (e) Applied overhead at a rate equal to 144 percent of direct labor cost. Completed jobs costing $262,250, (g) Sold jobs costing $323,870. Recorded sales revenue of $508,000. Required: 1. & 2. Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. (Post each transaction (d) cost separately. 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 decreaso? 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 underocolied manufacturing overhead (Round your answers to 2 decimal places.) Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. (Post each transaction (d) Round your answers to 2 decimal places.) Raw Materials Inventory 29,500.00 Work in Process Inventory 19,000.00 Beg Bal Beg. Bal End. Bal. 29,500.00 End. Bal. 19,000.00 Finished Goods Inventory 123,200.00 Manufacturing Overhead Beg Bal Beg. Bal End. Bal 123,200.00 End. Bal. 0.00 Cost of Goods Sold Sales Revenue Beg Bal Beg Bal underapplied manufacturing overhead. (Round your answers to 2 decimal places.) Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3a Reg 36 Req 4 Reg 5 Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturing Overhead Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3a Reg 36 Req 4 Reg 5 Prepare Lamonda's cost of goods manufactured report for April. (Round your answers to 2 decimal places.) LAMONDA CORP Cost of Goods Manufactured Report For the Month of April Direct Materials Used Total Current Manufacturing Costs S 0.00 Cost of Goods Manufactured Prepare Lamonda's April income statement. Include any adjustment to Cost of Goods Sold n underapplied manufacturing overhead. (Round your answers to 2 decimal places.) LAMONDA CORP. Income Statement For the Month of April Cost of Goods Sold Unadjusted Cost of Goods Sold Adjusted Cost of Goods Sold Net Income (Loss) from Operations
