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 $233.670. (b) Requisitioned materials at a cost of $111,900, of which $16,400 was for general factory use. (c) Recorded factory labor of $225.000, of which $42.875 was indirect. (d) Incurred other costs: (e) Applied overhead at a rate equal to 131 percent of direct labor cost. (f) Completed jobs costing \$262,050. (a) Sold jobs costing $324.570. (h) Recorded sales revenue of $514,000. Required: 1. \& 2. Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. (Post eoch transaction (d) cost separately. Round your answers to 2 decimal places.) 3-0. 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 o: decrease? 4. Prepare Lamonda's cost of goods manufactured report for April. (Round your answers to 2 decimal places.) 5. Prepare Lamonda's Aprit 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. Post the Apeil 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.) Reg 3a > (e) Applled overhead at a rate equal to 131 percent of direct labor cost. (f) Completed jobs costing $262,050 (g) Sold jobs costing $324.570 (h) Recorded sales revenue of $514,000 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 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 inciude any adjustment to Cost of Goods Sold needed to dispose of over-or underapplied manufocturing overhead. (Round your answers to 2 decimal pleces.) Complete this question by entering your answers in the tabs below. Compute over-or underapplied manufacturing overhesd. (Round your answer to 2 decimal places.) e) Applied overhead at a rate equal to 131 percent of direct labor cost. fompleted jobs costing $262050 g) Sold jobs costing $324,570 (h) Recorded sales revenue of $514,000. 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 incres 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. If the balance in the Manufactunng Overhead account is dosed directly to Cost of Goods Sold, will Cost of Goods Sold increase or decrease? increase Decrease 5. Prepare Lamonda's April income statement. Include any adjustment to Cost of Goods Sold needed to dispos underapplied manufacturing overhead. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Prepare Lamonda's cost of goods manufactured report for April. (Round your answers to 2 decimal places.) 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.)
