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 (el Purchased materials on account at a cost of $233.270 (b) Requisitioned materials at a cost of $112,100, of which $15,000 was for general factory use. (e) Recorded factory labor of $224,600, of which $42,275 was indirect. (d) Incurred other costs: Selling expense Factory utilities Administrative expenses Factory rent Factory depreclation S35.800 23.400 51.550 11,700 20,700 (e) Applicd overhead at a rate equal to 138 percent of direct labor oost. Completed jobs costing $262,450. fe) Sold jobs costing $323,670. ) 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. (Round your answers to 2 decimal places.) Raw Materials Inventory Work in Process Inventory Beg. Bal. Beg. Bal. 28.500,00 19,900.00 End, Bal 28,500.00 End. Bal. 19,900.00 Finished Goods Inventory Manufacturing Overhead Beg, Bal 124.400,00 Beg. Bal. End, Bal 124.400.00 End. Bal. 0.00 Sales Revenue Cost of Goods Sold Beg, Bal Beg. Bal. End, Bal 0,00 0.00 End. Bal. Selling and Administrative Expenses Beg. Bal End, Bal 0.00 3-a. Compute over- or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Overapplied by Manufacturing Overhead 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? O Decrease Increase 4. 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 Materlals Used Total Current Manufacturing Costs 0.00 Cost of Goods Manutactured 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.) LAMONDA CORP. Income Statement For the Month of April Sales Revenue $ 606.000,00 Cost of Goods Sold Beginning Finished Goods Inventory Plus: Cost of Goods Manufactured 262.450,00 Less: Ending Finished Goods Inventory S Unadjusted Cost of Goods Sold 323.670,00 Less: Overapplied Manufacturing Overhead Adjusted Cost of Goods Sold Gross Profit Selling and Administrative Expenses Net Income (Loss) from Operations