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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 $232,370. (b) Requisitioned materials at a cost of $111.000, of which $16,800 was for general factory use. (c) Recorded factory labor of $225,000, of which $41,975 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $35,800 23,300 50,150 10,400 20,200 (e) Applied overhead at a rate equal to 130 percent of direct labor cost. (n) Completed jobs costing $263,350. (9) Sold jobs costing $324,570. (n) Recorded sales revenue of $504,000. 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 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 overor underapplied manufacturing overhead. (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Ren 1 and 2 Rent Renah Ran 4 Rens Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. (Round your ans Raw Materials Inventory 29,100.00 Work in Process Inventory 18,200.00 Beg Bal Beg. Bal. End. Bal End. Bal Manufacturing Overhead Finished Goods Inventory 123,200.00 Beg. Bal. Beg. Bal. End. Bal. End. Bal. Cost of Goods Sold Sales Revenue Beg Bal. Beg Bal End. Bal End. Bal Nonmanufacturing Expenses Beg Bal. End. Bal

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