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 $233,570. (b) Requisitioned materials at a cost of $110,600, of which $16,700 was for general factory use. (c) Recorded factory labor of $224,400, of which $42,575 was indirect. (d) Incurred other costs:

Selling expense	$	35,100
Factory utilities		23,500
Administrative expenses		51,550
Factory rent		10,900
Factory depreciation		20,500

(e) Applied overhead at a rate equal to 144 percent of direct labor cost. (f) Completed jobs costing $261,950. (g) Sold jobs costing $324,170. (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.(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 Lamondas cost of goods manufactured report for April. (Round your answers to 2 decimal places.) 5. Prepare Lamondas 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
• Req 5

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.)

Raw Materials Inventory					Work in Process Inventory
Beg. Bal.	28,700.00				Beg. Bal.	18,700.00
End. Bal.	28,700.00
					End. Bal.	18,700.00
Finished Goods Inventory					Manufacturing Overhead
Beg. Bal.	123,800.00				Beg. Bal.
End. Bal.	123,800.00
					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

Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.)

Manufacturing Overhead

Overapplied by

If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will Cost of Goods Sold increase or decrease?

	Increaseradio button unchecked1 of 2 Decreaseradio button checked2 of 2

Prepare Lamondas 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

Prepare Lamondas 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.)

LAMONDA CORP.
Income Statement
For the Month of April
Cost of Goods Sold
Beginning Finished Goods Inventory
Plus: Cost of Goods Manufactured
Less: Ending Finished Goods Inventory
Unadjusted Cost of Goods Sold
Less: Overapplied Manufacturing Overhead
Adjusted Cost of Goods Sold
Gross Profit
Net Income (Loss) from Operations