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 $232,770. (b) Requisitioned materials at a cost of $111,900, of which $15,200 was for general factory use. (c) Recorded factory labor of $224,900, of which $43,175 was indirect. (d) Incurred other costs:

Selling expense	$	34,700
Factory utilities		24,400
Administrative expenses		50,550
Factory rent		11,400
Factory depreciation		19,200

(e) Applied overhead at a rate equal to 140 percent of direct labor cost. (f) Completed jobs costing $262,850. (g) Sold jobs costing $323,270. (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. (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?

• Increase

• 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.)

Raw Materials Inventory Work In Process Inventory Beg Bal 28,000.00 Beg Bal 18,500.00 End Bal 28,000.00 End Bal 18. 500.00 Manufacturing Overhead Finished Goods Inventory 124,800.00 Beg Bal Beg Bal End Bal 124,800.00 End Bal 0.00 Sales Revenue Cost of Goods Sold Beg Bal Beg Ball End Bal 0.00 0.00 End Bal Selling and Administrative Expenses Beg Bal 0.00 End. Bal Prox 5 of 6 Nex