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 $232,470. (b) Requisitioned materials at a cost of $111.400, of which $16,300 was for general factory use, (c) Recorded factory labor of $225700, of which $43,075 was indirect (d) Incurred other costs Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $35,200 23,000 50,850 11,100 19,500 (e) Applied overhead at a rate equal to 143 percent of direct labor cost (n) Completed jobs costing $261750 (9) Sold jobs costing $323,370 (1) Recorded sales revenue of $516,000. Required: 1. & 2. Post the April transactions to the Taccounts 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-o. 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 Apnl (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 under applied 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 32 Reg 36 Reg4 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. Round your answers to 2 decimal places.) Raw Materials inventory 28,700.00 Work in Process Inventory 18.700.00 Beg Bai Beg Ba End. Bal End Bal Finished Goods Inventory 124,100.00 Manufacturing Overhead Beg Ba Beg Bal End Bal End Bar Cost of Goods Sold Sales Revenue Bal Beg Bal End Bal End Bal No manufacturing Txpenses Deg End Bat Regla > Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3a Reg 36 Reg 4 Req5 Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturing Overhead Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3a Reg 36 Req4 Regs 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 Req 1 and 2 Req 3a Req 3b Req 4 Req 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 Cost of Goods Manufactured Req 1 and 2 Req 3a Req 3b Reg 4 Reg 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.) 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
