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 $232,670 (b) Requisitioned materials at a cost of $110,900, of which $16,700 was for general factory use. (c) Recorded factory labor of $223,800, of which $41,875 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $35,800 23,200 50,650 11,800 20,600 (0) Applied overhead at a rate equal to 142 percent of direct labor cost (Completed jobs costing $262,050, (a) Sold jobs costing $323,370. Recorded sales revenue of $518,000, 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 or 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. Reg 1 and 2 Reqja Reg 3b Reg 4 Reg 5 inst the Antil transactions in the Taccounts and compute the balance in the accounts at the end of April. Posteach transaction cost sparately. Req 1 and 2 Req 30 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 () cost separately Round your answers to 2 decimal places.) Beg Bal (a) Raw Materials Inventory 29,200.00 232,670.00 94,200.00 (6) 16,700.00) 150,970.00 Beg BM . (b) (c) Work in Process Inventory 10,000.00 94,200.00 181,925.00 End. Bal End Bal 295.125.00 Manufacturing Overhead Finished Goods Inventory 123.100,00 262,050.00 Boy Bal. c) Beg Ba End. Bal 385,150,00 End, Bal 0.00 Cost of Goods Sold Sales Revenue Beg Bal Beg Bal 0.00 End, Bal End Bal 0.00 Nonmanufacturing Expenses Beg Bal End. Bal 0.00 Reg 1 and 2 Reg Ba Reg 3b Req 4 Req 5 Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Manufacturing Overhead Reg 1 and 2 Reg 3a Real 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 Req 1 and 2 Req 3a Req 3b Reale Reg 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 $ 0.00 Cost of Goods Manufactured Reg 3b Reg 5 >
