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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
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 $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: $44.000 26,000 15,000 30,000 Factory depreciation 24,000 Selling expense Factory utlities Factory rent (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 S500,000. Required: 1. & 2. Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. Beg. Bal. 25,000 e. Bal. 55,000 End. Bal. End. Bal. Beg. Bal. 0,000 e. Bal. End. Bal. 60 End. Bal. Beg. Bal End. Bal. End. Bal. Beg. Bal End. Bal. 3-a. Compute over-or underapplied manufacturing overhead
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