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 $233,670 (D) Requisitioned materials at a cost of $112,000, of which $16,300 was for general factory use. (c) Recorded factory labor of $225,200, of which $41,975 was indirect (d) Incurred other costs Selling expense Factory utilities Administrative expenses Factory rent Factory depreciation $35,300 22,900 50,950 11,500 20,400 (e) Applied overhead at a rate equal to 136 percent of direct labor cost (Completed jobs costing $262,950. (g) Sold jobs costing $323,670. (h) Recorded sales revenue of $519,000. 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 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.) 3-0. 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 Reg 3a Reg 36 Reg 4 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 Req 1 and 2 Reg 3a Reg 3b Reg 4 Reg 5 ed Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. (Post each transaction (d) ce Round your answers to 2 decimal places.) Raw Materials inventory Work in Process Inventory Beg Bal 29,800.00 Beg Bal 18,300.00 (0) 233,670.00 112,000.00 () $3 $ End Bal 151,470.00 > End Bal 18 30000 Manufacturing Overhead Beg Bal Finished Goods Inventory 123,100.00 262,950.00 323 670.00 Beg Bal 100 (9) > X End Bal 62 380.00 End Bal 0.00 Cost of Goods Sold Sales Revenue Manufacturing Overhead Beg Bal (0) Finished Goods Inventory 123,100.00 262,950 00 323,670,00 Beg Bal (9) > X End Bal 62,380.00 X X d End Bal 0.00 Cost of Goods Sold Sales Revenue Beg Bal (9) 323,670.00 X X Beg Bal (0) (d) End Bal 35,300 00 50,950 00 86,250.00 End Bal 323,670.00 Nonmanufacturing Expenses Beg Bal X X % X 0:00 End Bal Req3a > 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 So 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 underapplied manufacturing overhead (Round your answers to 2 decimal places.) Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3a Reg 36 Reg 4 Reg 5 Compute over or underapplied manufacturing overhead. (Round your answer to 2 decimal places:) Manufacturing Overhead Overapplied by Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3a Reg 3b Reg 4 Req5 ded 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 Beginning Raw Materials Inventory Plus: Raw Material Purchases Less: Indirect Materials Less Ending Raw Materials Inventory Direct Materials Used Direct Labor Manufacturing Overhead Applied > $ 0.00 Total Current Manufacturing Costs Less: Beginning Work in Process Inventory Less Ending Work in Process Inventory Cost of Goods Manufactured Rad text indicates no response was expected celor a formule-based calculation la incorrecti no points deducted, Req 1 and 2 Req 3a Reg 3b Reg 4 Reqs Prepare Lamonda's April income statement. Include any adjustment to cost of Goods Sold needed to dispos underapplied manufacturing overhead. (Round your answers to 2 decimal places.) -d LAMONDA CORP Income Statement For the Month of April Sales Revenue Cost of Goods Sold Beginning Finished Goods Inventory Plus: Cost of Goods Manufactured Plus Ending Finished Goods Inventory Unadjusted Cost of Goods Sold Less Overapplied Manufacturing Overhead Adjusted Cost of Goods Sold Gross Loss Selling and Administrative Expenses Net Income (Loss) from Operations X X X X X
