Lamonda Corp. uses a job order cost system. On April 1, the accounts had balances as shown in the T-accounts below:

Raw Materials Inventory:

Bal 25,000

Work in Process Inventory

Bal 55,000

Finished Goods Inventory

Bal 60,000

Manufafcturing Overhead

Cost of Goods Sold

Sales Revenue

Nonmanufacturing Expenses

The following transactions occurred during April:

(a)	Purchased materials on account at a cost of $136,000.
(b)	Requisitioned materials at a cost of $122,000, of which $28,000 was for general factory use.
(c)	Recorded factory labor of $155,000, of which $24,000 was indirect.
(d)	Incurred other costs:

Selling expense	$	44,000
Factory utilities		26,000
Administrative expenses		15,000
Factory rent		30,000
Factory depreciation		24,000

(e)	Applied overhead at a rate equal to 135 percent of direct labor cost.
(f)	Completed jobs costing $375,000.
(g)	Sold jobs costing $402,000.
(h)	Recorded sales revenue of $500,000.

Required:

1. Post the April Transactions to the T-accounts. (Note: Some transactions will affect other accounts not shown; e.g., Cash, Accounts Payable, Accumulated Depreciation. You do not need to show the offsetting debit or credit to those accounts.)

2. Compute the balance in the accounts at the end of April

3. Compute over- or underapplied manufacturing overhead. 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.

5. Prepare Lamonda's April Income Statement. Include any adjustment to Cost of Goods Sold needed to dispose of over- or underapplied manufacturing overhead.