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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

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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 $233,270. (b) Requisitioned materials at a cost of $110,800, of which $15,000 was for general foctory use. (c) Recorded factory labor of $224,100, of which $43,575 was indirect (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Tactory rent Factory depreciation $34,800 24,100 50,250 10,600 19.500 (0) Applied overhead at a rate equal to 143 percent of direct labor cost. in Completed jobs costing $262,550. (9) Sold jobs costing $324 270. (1) Recorded sales revenue of $505,000 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 Lamondo'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.) Reg 4 Reg 5 Reg 1 and 2 Reg 3a Reg 3b Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. (Post each transaction Round your answers to 2 decimal places.) Raw Materials Inventory Work in Process Inventory Beg. Bal 28,300.00 Beg Bal 18,500.00 End. Bal 28,300.00 End. Bal. 18,500.00 Manufacturing Overhead Finished Goods Inventory 123,700.00 Beg. Bal Beg. Bal End. Bal 123,700.00 0.00 End Bal Salos Revenue Cost of Goods Sold Beg Bal Beg Bal End: Bal 0.00 End. Bal 0.00

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