Lamonda Corporation 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 Apri: a. Purchased materials on account at a cost of $232,270 b. Requisitioned materials at a cost of $111,700, of which $16,000 was for general factory use c. Recorded unpaid factory labor of $224,100, of which $42,275 was indirect. d Incurred other costs. e. Applied overhead at a rate equal to 143 percent of direct labor cost f. Completed jobs costing $263,450. 9. Sold jobs coeting $324,470 h. Recorded sales revenue (on account) of $506,000 Required: 1. \& 2. Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. 3-a. Compute over-or underapplied 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 o 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. Complete this question by entering your answers in the tabs below. ance in the accounts at the end of April. tis to 2 dedimal places Required: 1. \& 2. Post the April transactions to the T-accounts and compute the balance in the accounts at the end of A 3-a. Compute over-or underapplied manufacturing overhead. 3-b. If the balance in the Manufacturing Overhead account is closed directly to Cost of Goods Sold, will Cost 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 dispo underapplied manufacturing overhead. Complete this question by entering your answers in the tabs below. Compute over- or underapplied manufacturing overhead. Note: Round your answer to 2 decimal places. 1. \& 2. Post the April transactions to the T-accounts and compute the balance in the accounts at the end of April. 3-a. Compute over-or underapplied 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 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. Complete this question by entering your answers in the tabs below. If the balance in the Manufacturing Overhead account is closed directly to cost of Goods sold, will cost of Goodi Sold increase or decrease? Complete this question by entering your answers in the tabs below. Prepare Lamonda's cost of goods manufactured report for April. Note: Round your answers to 2 decimal places. 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. Note: Round your answers to 2 decimal places
