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 $232,870. (b) Requisitioned materials at a cost of $110,600, of which $16,200 was for general factory use. (c) Recorded factory labor of $225,000, of which $43,775 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $34,500 23,000 51,050 10,000 19,500 (e) Applied overhead at a rate equal to 143 percent of direct labor cost. in Completed jobs costing $262,950. (9) Sold jobs costing $324,370. (h) Recorded sales revenue of $519,000. 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 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.) Check Complete this question by entering your answers in the tabs below. Reg 36 Reg 1 and 2 Rea 30 Reg 4 Regs 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.) Raw Materials Inventory Work In Process Inventory Beg. Bat. 29,100.00 Beg Bal. 18,300.00 End, Bal 29.100.00 End. Bol 18,300.00 Finished Goods Inventory 124,200.00 Manufacturing Overhead Beg Bal Bog Bal End. Bal 124.200.00 End. Bal 0.00 Cost of Goods Sold Sales Revenue Beg. Bal Beg Bal End. Bal. 29,100.00 End. Bal. 18,300.00 Finished Goods Inventory 124,200.00 Manufacturing Overhead Beg Bal. Beg. Bal. End. Bal. 124,200.00 End. Bal. 0.00 Cost of Goods Sold Sales Revenue Beg Bal Beg. Bal End. Bal. 0.00 End. Bal. 0.00 Nonmanufacturing Expenses Beg. Bal End. Bal. 0.00 bor cOSL () Completed jobs costing $262,950. (9) Sold jobs costing $324,370. (h) Recorded sales revenue of $519,000. 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 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.) Complete this question by entering your answers in the tabs below. Reg 1 and 2 Reg 3a Reg 36 Req4 Reg 5 Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturing Overhead 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.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3a Reg 36 Reg 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 $ 0.00 Cost of Goods Manufactured 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.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3a Req 3b Req 4 Req5 Prepare Lamonda's April income statement. Include any adjustment to cost of Goods Sold needed to dispose of over-on 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
