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 $136,000. b) Requisitioned materials at a cost of $122,000, of which $28,000 was for general factory use. (c) Recorded factory labor of $155,000, of which $24,000 was indirect. (d) Incurred other costs: Selling expense $44,000 Factory utilities 26,000 Administrative expenses 15,000 Factory rent 30,000 Factory depreciation 24,000 (e) Applied overhead at a rate equal to 135 percent of direct labor cost. ) Completed jobs costing $375,000 (9) Sold jobs costing $402,000. (h) Recorded sales revenue of $500,000 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.) 3-a. Compute over- or underapplied manufacturing overhead. 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, 5. Prepare Lamonda's April income statement. Include any adjustment to Cost of Goods Sold needed to dispose of over-or underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3a Reg 36 Reg 4 Reg 5 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.) Raw Materials Inventory Work in Process Inventory Bog. Bal. 25.000 Bog. Bal 55,000 End. Bal. End. Bal. Manufacturing Overhead Finished Goods Inventory 60,000 Bog. Bal Beg. Bal End. Bal End. Bal. Cost of Goods Sold Sales Revenue Bog. Bal. Beg. Bal End. Bal End. Bal. Nonmanufacturing Expenses Beg. Bal. End. Bal Reg 1 and 2 Req3a > Req 1 and 2 Req 3a Reg 36 Req 4 Reg 5 Compute over- or underapplied manufacturing overhead. Manufacturing Overhead Req 1 and 2 Reg Req 36 Req 4 Reg 5 If the balance in the Manufacturing Overhead account is closed directly to cost of Goods Sold, will cost of Goods Sold increase or decrease? Increase Decrease