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Lamonda Corp. uses a job order cost system. On Aprll 1 , the accounts had balances as shown in the T-accounts below: The following transactlons
Lamonda Corp. uses a job order cost system. On Aprll 1 , the accounts had balances as shown in the T-accounts below: The following transactlons occurred during April: (a) Purchased materials on account at a cost of $231,870 (b) Requisitioned materlals at a cost of $110,600, of which $16,700 was for general factory use. (c) Recorded factory labor of $224,800, of which $42,275 was indirect. (d) Incurred other costs: (e) Applled overhead at a rate equal to 143 percent of direct labor cost (f) Completed jobs costing $262,750. (9) Sold jobs costling $323,070. (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 Aprli. (Post each transaction (d) cost separately. 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 Aprll. (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.) 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.] Answer is not complete. Complete this question by entering your answers in the tabs below. Compute over-or underapplied manufacturing overhead. (Round your answer to 2 decimal places.) Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare Lamonda's cost of goods manufactured report for April. (Round your answers to 2 decimal places.) (x) Answer is not complete. Complete this question by entering your answers in the tabs below. 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.)
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